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No Immediate Move Seen for Smith Tool

INDUSTRY NOTES

March 20, 1987|LESLIE BERKMAN

Manufacturing and engineering employees of the Irvine-based Smith Tool Co. subsidiary of Smith International Inc. will not be immediately affected by the consolidation of Smith Tool with Houston-based Smith Drilling Systems, a company official said.

Although some of Smith Tool's administrative personnel will be transferred to Houston and some will be laid off because of the consolidation, Smith Tool will continue to occupy the Irvine plant it sold to Hillman Properties West Inc. in December for $46 million but leased back for three years.

Robert M. Gubrud, vice president and treasurer of Smith International, said, however, that Smith Tool operations may be shifted to Houston if tenants can be found to sublease the Irvine facility.

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