GE Oil & Gas acquires Lufkin Industries

GE Oil & Gas acquired Lufkin Industries in a deal valued at US$3.3billion. Lufkin manufactures and services artificial lift equipment through more than 110 service centers and nine manufacturing facilities. GE says automation is an integral part of Lufkin’s approach to artificial lift optimization and its product line contains the building blocks that will help to develop an artificial lift “industrial internet” through a connected network of technology, data and experts.

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