TradeArabia News Service reported that Saudi based Shoaibi Group has entered into a JV with Drilltec, the leader in tubular thread protectors, to manufacture thread protection products for the oil country tubular goods industry.

As per report, the JV Drilltec Saudi Arabia will set up a local manufacturing facility to manufacture and sell Drilltec's thread protectors and related products and services throughout Saudi Arabia and Bahrain and their respective territorial waters.

Drilltec SA will offer a comprehensive line of products and equipment that protect tubular goods from impact damage caused during transportation and corrosion damage during storage.

The JV will manufacture thread protectors meeting API 5CT Annex I standards as well as Drilltec's rigorous global quality standards in Saudi Arabia.

Drilltec Acquisition Holding Corporation is a wholly owned subsidiary of Drilltec Parent Holding Corporation.

(Sourced from TradeArabia News Service)