Ceradyne Acquires Downhole Bearing Rights

Resource from: CBCC Likes:2968

Jul 07,2008

Ceradyne Inc. (USA; Nasdaq: CRDN) has acquired the rights to a patented downhole oil drilling rig bearing and will begin manufacturing it in Lexington, Kentucky. Ceradyne bought the rights from KMC Inc. / KMC Bearings, a privately owned business in Greenwich, Rhode Island, paying USD $4 million and 3% royalty going forward. Russell Ide, the bearing's developer and founder of KMC, will join Ceradyne to oversee the related organization. Mr. Ide has several hundred patents to his credit. The downhole bearing is a specialty type of "stacked" bearing, utilizing silicon carbide from Ceradyne. Ceradyne said: "The bearing is anticipated to be rapidly accepted due to the reduction of drilling downtime. Two other energy-related product lines will go into coalbed methane pumps and steam-assisted oil extraction pumps." The new product line and Mr. Ide will become part of Ceradyne Advanced Ceramic Operations. Thomas Cole, Ceradyne VP of Business Development, said: "We are very pleased to have acquired this technology as it fits the Ceradyne vertical integration model very well. Through a unique design and the use of our erosion and corrosion-resistant silicon carbide ceramic, we believe this oil drilling product will rapidly become the new state-of-the-art for oil drilling bearings."

()

【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.

Add to My Favorites

[Close the window]

Previous Schaeffler Group Contributes to Success of Phoenix Mars Mission
Next NSK Develops Manipulation System that Enables Fine Processing (Pic)

BRIEF INTRODUCTION

Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.

Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.

China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.