and Landreth Products, which is located in Houston, a designer and producer of cold-formed products such as rivets and fasteners.

But IHI would like to keep an interest in these enterprises, according to Robert E. Cone, president and CEO. He says the streamlined parent company will be "in a great position" to focus on the energy field.

IHI currently manufactures and refurbishes valves and control systems for major drilling contractors, and supplies pumping and rotating equipment and services in the oil and gas markets," Cone says. "Our involvement in both the upstream and downstream energy markets should increase substantially."

With that switch in mind, IHI has beefed up its board with the addition of Don Carlin, former president of Moores Pump & Supply, Inc., an IHI subsidiary, and Andrew Cormier, now president of the IHI Energy Group. "Because of our focus on energy," Cone says, "the board needed the strengths and insights that Andrew Cormier and Don Carlin have.