Word: dresser
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John B. O'Connor, 57, is a man smitten by wanderlust. In twelve years as executive vice president of Dresser Industries, one of the world's biggest oil equipment and service companies (annual sales of $225 million), Oilman O'Connor logs more than 100,000 miles a year helping run Dresser's eleven subsidiaries spread over eleven states and nine foreign countries. Recently the oil industry's Nomads Club voted him "the world's most-traveled executive." Last week Traveler O'Connor made one of the most important moves of his career...
Houston to Greece. Oilman O'Connor will be responsible for a worldwide $18 million expansion program at Dresser-everything from a new research center in Houston to a barite and bentonite (used in drilling muds) mining operation on the island of Mikomos, off the coast of Greece. The new products closest to the O'Connor heart are two oil turbodrills, which he recently succeeded in buying after eight months of on-again, off-again negotiations (TIME, Oct. 8) with the Russians and France's Etablissements Neyrpic. To be tested for the first time in Dallas this week...
Without O'Connor, Dresser might never have got the Russian drill. The Commerce Department first refused to let Dresser export any technical information in exchange for the drills; eventually, O'Connor worked out a straight cash deal with the U.S.S.R. O'Connor feels that getting the Russian equipment was worth the trouble, since U.S. engineers were unsuccessful in developing a turbodrill that could withstand the strain and pressure of deep drilling. Says O'Connor: "That's where the Russians beat us. They decided that if they were going to drill with mud, they must lubricate...
...Serve the Industry. For 27 years the Dresser company has been farsighted enough to acquire the best and newest equipment that the oil world has to offer. When Mallon stepped into the presidency of Dresser in 1929, it produced only flexible couplings for plain-end pipes, had $5,800,000 in sales. Mallon built up Dresser into a company that could serve the entire gas and oil industry. In 1937 Dresser bought its first subsidiary company, Clark Bros, (angle compressors), and also got its vice president, John B. O'Connor, in the bargain. Three years later Dresser added centrifugal...
RUSSIAN OIL DRILLS will come to U.S., but not at price of exchanging U.S. technical data. After Commerce Department blocked deal by Dallas' Dresser Industries to buy drills last spring (TIME, May 28), company has managed to swing "entirely monetary" deal with Russians with "no exchange of technical data." It is importing 40 high-speed turbodrills from Soviets, which company says are five times faster than present rotary drills...