07:05 AM EDT, 03/25/2026 (MT Newswires) -- NOV (NOV) said Wednesday that it plans to invest $200 million over the next three years to roughly double capacity at its subsea flexible pipe manufacturing facility in Brazil's Acu.

The expansion is intended to support sustained demand linked to deepwater developments and an expected replacement cycle for flexible pipe installations, the company said.

Chief Executive Jose Bayardo said the facility is operating near full utilization, with backlog extending into 2028. The additional capacity is expected to come online by late 2029, Bayardo added.

NOV added that the project will increase its 2026 capital expenditure plan by about $50 million.