Hy-Tech Engineered Solutions announced on Oct. 15 the acquisition of Blaz-Man Gear and Gear Products & Manufacturing; both Chicago based companies specializing in the manufacture and distribution of custom gears and power transmission gear products.
The addition will triple Hy-Tech’s capacity in gear production, as well as bring new expertise to expand into more complex spiral and straight bevel gear design and manufacture. Hy-Tech offers over 20,000 replacement parts for many recognized leading OEM brands.
The largest U.S. independent crude producer said it expects to spend about $20 billion on dividends and $30 billion in share buybacks in 10 years.
After being battered by weak Permian gas prices, Approach Resources filed for Chapter 11 bankruptcy to explore strategic alternatives that include either a restructuring or the sale of its business.
Norway’s oil industry faces thinner margins as smaller new discoveries boost per-barrel development costs, Statistics Norway (SSB) said in a report Nov. 19