GE acquires Lufkin Industries
GE and Lufkin Industries Inc. have announced a joint agreement whereby GE will acquire Lufkin Industries Inc., a leading provider of artificial lift technologies for the oil and gas industry and a manufacturer of industrial gears, for approximately US$3.3 billion.
GE, a diversified infrastructure, finance and media company, has signed a $3 billion deal to acquire Dresser, an energy infrastructure technology and service provider.