lufkin industries

GE Making $60 Million Upgrade to Lufkin Foundry
From a press release published by GE earlier today:
Seeking to improve and sustain its manufacturing capabilities to meet the growing demand for oil and gas production and power transmission equipment, GE Oil & Gas (NYSE: GE) today announced it plans to invest $60 million in expanding and mod…
G.E. Buying Lufkin Industries for $3.3 Billion
Meetings with employees at Lufkin Industries this morning have confirmed the rumors that Lufkin Industries will be selling to G.E.  According to a report in the New York Times, the price of the buy out will be around $3.3 billion.