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Axon acquires Fluid Design Solutions

Axon Energy Products has today announced the merger of Fluid Design Solutions Inc. (FDS) and Fluid Technical Services Inc. (FTS) with its subsidiary Axon Drilling Products, Inc (ADP).

Houston, August 4, 2011

Axon Energy Products AS, (Axon) has today announced the merger of Canadian drilling technology companies Fluid Design Solutions Inc. (FDS) and Fluid Technical Services Inc. (FTS) with its subsidiary Axon Drilling Products, Inc (ADP). Axon is headquartered in Houston, Texas and has manufacturing and service facilities in Houston, Houma, Broussard, Edmonton, Stavanger, Arbroath, Illies, and Abu Dhabi. Axon designs and manufactures pressure control, well intervention, and drilling products, as well as providing rig concept and design services for a global customer base that includes oil and gas drilling, production, well servicing and workover companies.

Axon Chief Executive Officer, Gary Stratulate, stated “FDS and FTS are a sound strategic fit and will form the core of our drilling products platform. We are extremely pleased to have FDS and FTS as part of the Axon family. FDS and FTS have an industry wide reputation for producing top quality products and service. The resultant company, ADP will engineer, manufacture, recertify and provide aftermarket parts and service for both hydraulic and electric top drives, iron roughnecks, pipe handling equipment and drilling control systems which meet or exceed our customer’s requirements.”

FDS President, Shawn Nielsen, added “We are very excited about bringing FDS and FTS into the Axon family. Over the last ten years our team has made significant strides through innovation and technology to create advanced designs for oilfield equipment. While our products have gained industry recognition for increasing productivity and reliability they are now mature designs. To better grow and serve our customer’s needs, we need a partner like Axon to expand our manufacturing and after market capacity. Axon has the global footprint and resources to take us to the next level and make us "The Alternative" globally.”