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General Electric to Spend Nearly $3B for Oil Pump Manufacturer Lufkin
Apr. 08, 2013 03:33PM PST
Oil and Gas InvestingReuters reported that General Electric Co will acquire oil pump maker Lufkin Industries for nearly $3 billion and is expected to close the deal by June.
Reuters reported that General Electric Co will acquire oil pump maker Lufkin Industries for nearly $3 billion and is expected to close the deal by June.
As quoted in the market news:
GE Oil & Gas will become the company’s third-largest manufacturing unit by revenue behind the power and water and aviation units. It has been growing at a breakneck clip, posting a 16 percent jump in revenue from 2011 to 2012.