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Article: Texas Eastern Corp. announces the sale of its subsidiary, Fishing Tools Inc., and plans to sell Air Drilling Services Inc. and Air Drilling Services International Ltd. subsidiaries.
- Article from:
- PR Newswire
- Article date:
- January 20, 1987
CopyrightCOPYRIGHT 1987 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HOUSTON, Jan. 20 /PRNewswire/ -- Texas Eastern Corp. (NYSE: TET) today announced the sale of its subsidiary, Fishing Tools Inc., and the signing of a letter of intent to sell Air Drilling Services Inc. and Air Drilling Services International Ltd. subsidiaries. Both actions are in keeping with Texas Eastern's previously announced plan to dispose of certain assets not included in its long-term strategy to focus on core businesses.
Fishing Tools was sold to Vanderhider Management Group Inc., a group of Fishing Tools employees headed by W.R. Vanderhider. Terms of the sale were not disclosed. With headquarters in Harvey, La., Fishing Tools is engaged in the ...