News
GE to Acquire Lufkin Industries.
Issued at 2013-04-16
Tweet
GE and Lufkin Industries Inc. announced a joint agreement whereby GE will acquire Lufkin Industries, a leading provider of artificial-lift technologies for the oil and gas industry and a manufacturer of industrial gears, for approximately $3.3 billion. Artificial lift, used in 94% of the roughly 1 million oil-producing wells around the world, helps lift hydrocarbons to the surface in reservoirs with low pressure and improves the efficiency of naturally flowing wells. Lufkin's suite of gears and bearings will complement GE's existing product line and are currently in use on GE's compressor and gas turbines. Lufkin will continue to sell these to the open market as it does today.
Source: Industrial Heating
Tweet
Related News
- Kuttner do Brasil and Kuttner No Bake Solutions bring the most advanced foundry equipment technologies to Metalurgia2025
- Metallurgy concentrates suppliers of inputs for diversified applications in the industry
- UK - Vesuvius Plc - Acquisition of the Molten Metal Systems business from Morgan Advanced Materials Plc
- Metallurgy Congress will have Technical Program focused on Process Improvement and use of AI
- Brazil launches WTO case over Trump’s tariffs
- Metallurgy brings together Innovations in Industrial Heating and Induction Systems
- Aluminium: The Lightweight Powerhouse Driving Formula One Innovation
- US tariffs to have 'minimal' impact on Brazilian steel
- See all News
