The family business of Varel Manufacturing Company was founded in Delaware, USA by Daniel W Varel.
The first volume production of rotary three cone drill bits and fixed cutter drag bits to the Mining, Construction & Seismic industries commenced.
Inauguration of Varel de Mexico S.A. In the early 90’s the entire manufacturing facility moved from Dallas to Mexico, where 100% of Terelion’s products are now produced.
Family ownership changed and Varel was sold to a UK/USA Venture capital company. The well-respected Varel name was retained.
Acquisition of Walker Mc Donald, a well-known manufacturer of mining three cone bits, from Greenville, Texas.
Launch of the patented Ridgeback drill bit series. The first generation of advanced features. Longer life bearings. Improved cutting structures. The famous Ridgeback shirttail concept. Improving hole cleaning, extending bit life.
Launch of the D-Force drill bit series. Designed for highly abrasive conditions. Combines field-proven and new features, like the high load SP1 bearing package, reinforced gage and shirttail protection.
Formation of a new holding company, Varel International Energy Services (VIES), to become parent company of Varel Oil & Gas, Downhole Products, and Varel Mining & Industrial.
Varel acquires the RPS Rotary Percussion product line from Renegade Tool, USA.
Launch of the Avenger drill bit series. Combining the best of our patented features, knowledge, and experience. The sealed bearing design delivers improved Rate of Penetration, lower Total Drilling Cost and extended bit life.
Sandvik acquires the holding company, Varel International Energy Services (VIES).
Launch of the Advanced Modeling Package software, enabling a unique drill bit design that’s just right for any specific rock conditions.
Sandvik divests Varel International Energy Services (VIES) but retains Varel Mining & Industrial.
Varel Mining & Industrial is renamed to Terelion.