WorldWide Drilling Resource

9 WorldWide Drilling Resource ® AUGUST 2013 Hot Off the Press page is proudly sponsored by American Manufacturing For links to these Web sites, visit: worldwidedrillingresource.com Torishima Pump Acquires 50% Interest in FEDCO Torishima Pump Manufacturing Company, headquartered in Osaka, Japan, acquired a 50% interest in Fluid Equipment Development Company, LLC (FEDCO), a Monroe, Michigan- based manufacturer of pumps and hydraulic energy recovery devices. Last year, Torishima and FEDCO agreed to establish a joint venture, Advanced Pumps International LLC, for the development, manufacture, sales, and service of pumps for the oil and gas industry. Work on this venture is well under way. The invest- ment of a 50% interest in FEDCO by Torishima will cement the relationship between the two parties and ease the way for greater penetration of global markets and aiding in the development of unique "energy-efficient" and "energy recovery" rotating equipment. "Torishima shares our values of qual- ity, efficiency, teamwork, and innova- tion. Our partnership is expected to yield exponential growth," stated Eli Oklejas, CEO of FEDCO. The investment will benefit FEDCO customers with new technologies, worldwide sales and service capabil- ities, and further commitment of its advanced manufacturing and testing facilities.