Schlumberger to sell testing unit

June 30, 2003 – Schlumberger Ltd., a New York-based oil field services company, has agreed to sell its NPTest unit to a venture partner group for $220 million.

NPTest, San Jose, CA, which makes semiconductor test and diagnostic equipment, withdrew its planned $575 million IPO plans in early June 2003, citing conditions in the securities markets.

Schlumberger expects the deal, which eliminates non-core business, will reduce its 2Q profit by $12 million.


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