Innovex International, Inc., a leading provider of products and technologies to the oil and gas industry, has announced the completion of the divestment of its Subsea Tree product line to Trendsetter Engineering, Inc. This all-cash transaction allows Innovex to concentrate on its core subsea product lines, enhancing customer responsiveness and delivering superior growth. Trendsetter Engineering, Inc. will now expand its offerings in the subsea production solutions arena, marking a significant step forward by entering the subsea tree product space. Innovex will maintain intellectual property rights for its subsea tree orientation systems, with plans to license this technology to manufacturers.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.