Exclusive Distribution Agreement for NanoSteel's Hardbanding Material Comes to an End

The NanoSteel® Company, a leader in surface coating technologies, today announced the exclusive distribution agreement between itself and Grant Prideco, a division of National OilWell Varco, for a hardbanding weld overlay product has ended.

During the term of the agreement, Grant Prideco was provided the exclusive right to sell NanoSteel's patented SHS7272GP alloy, known in the industry by the Grant Prideco trademark Platinum™ HB.

"Working with Grant Prideco to commercialize NanoSteel's patented hardbanding materials has been an excellent experience for us," said Dave Paratore, president and CEO. "They have been a true partner throughout this endeavor."

Over the past five years, more than 700 miles of drill pipe have been hardbanded with Platinum™ HB. To ensure customers continued access to the material, NanoSteel will now offer the product under the new NanoSteel trademark name Guardian™ HB. The product will remain unchanged from the original Platinum™ HB sold by Grant Prideco and may be purchased directly from NanoSteel.

Source: http://www.nanosteelco.com/

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