Lufkin Industries

Local Company With 100-Year History To Keep Its Name
More on a story we brought you earlier this week...
General Electric is getting more involved in the energy industry and is in the process of buying Lufkin Industries in a deal valued at around $3.3 billion dollars.  The CEO tells KTRE that Lufkin Industries will keep its name.
Lufkin Industries to be Purchased by GE
General Electric wants to get more involved in the energy industry, and that means big bucks for one Lufkin Company.
It's been announced the GE is buying Lufkin Industries for 38 percent above the closing price of its shares on Friday.  GE values the deal at around $3.3 billion dollars.