Dril-Quip, Inc. (NYSE: DRQ) announced today that it has completed its previously announced acquisition of TIW Corporation. TIW, based in Houston, Texas, is a global provider of liner hanger systems and related equipment and services.

Blake DeBerry, President and Chief Executive Officer of Dril-Quip, stated, "We are excited to complete the acquisition of TIW Corporation, the first in Dril-Quip's history, and welcome TIW employees to the Dril-Quip team. In addition to expanding our offshore and onshore market opportunities, this transaction allows us to significantly expand our product offerings to our customers."

About Dril-Quip

Dril-Quip is a leading manufacturer of highly engineered offshore drilling and production equipment, which is well suited for use in deepwater, harsh environment and severe service applications.