Company type | Independent |
---|---|
Industry | Oil and Gas Equipment |
Founded | February 28, 1902 |
Headquarters | Missouri City, TX |
Website | Lufkin.com |
Lufkin Industries is an American manufacturing company founded in 1902 and headquartered in Missouri City, Texas. Lufkin is a provider of rod lift products, automated control and optimization equipment and software for rod lift equipment to the oil and gas industry. It was an independent company until being acquired by GE Oil & Gas in July 2013, which later merged with Baker Hughes to create Baker Hughes, a GE Company (BHGE). On June 30, 2020, KPS Capital Partners, LP completed its previously announced acquisition of Lufkin from Baker Hughes. [1]
In 1902, The Lufkin Foundry and Machine Company was founded in Lufkin, Texas in 1902 to operate a machine shop to repair sawmill machinery. The company soon began manufacturing sawmill equipment and repairing locomotives. As the lumber industry declined in East Texas, the company expanded into the manufacture of oil drilling and refinery equipment. In the 1930s the company established an iron foundry and began manufacturing truck trailers and gears for industrial equipment. During World War II, the company specialized in manufacturing gears for use in military vehicles. After the war, sales of oil equipment slowed, but sales of trailers and industrial gears did better. The company had conflicts with organized labor in the 1950s and much of the 1960s. In 1970 the company's name was changed to Lufkin Industries, and three divisions were established: Machinery, Trailer, and Automotive/Industrial Supplies. The company prospered in the 1970s, growing to 3,800 employees and annual sales of over $364 million by the early 1980s. [2]
In 2013, Lufkin was acquired by General Electric for $3.3 billion. [3] On June 30, 2020, Lufkin once again became an independent company with Baker Hughes divesting its Rod Lift Systems business. The former Lufkin Power Transmission Division (Lufkin Gears LLC www
Lufkin's main focus is in the oil and gas equipment industry. Lufkin produces fully automated rod lifts and other forms of artificial lift that are designed to extract oil and natural gas from hard to reach oil reservoirs. [5]
Kawasaki Heavy Industries Ltd. (KHI) is a Japanese public multinational corporation manufacturer of motorcycles, engines, heavy equipment, aerospace and defense equipment, rolling stock and ships, headquartered in Chūō, Kobe and Minato, Tokyo, Japan. It is also active in the production of industrial robots, gas turbines, pumps, boilers and other industrial products. The company is named after its founder, Shōzō Kawasaki. KHI is known as one of the three major heavy industrial manufacturers of Japan, alongside Mitsubishi Heavy Industries and IHI. Prior to the Second World War, KHI was part of the Kobe Kawasaki zaibatsu, which included Kawasaki Steel and Kawasaki Kisen. After the conflict, KHI became part of the DKB Group (keiretsu).
Lufkin is the largest city in Angelina County, Texas, United States and is the county seat. The city is situated in Deep East Texas and is 60 mi (97 km) west of the Texas- Louisiana state line. Its estimated population is 35,021 as of July 1, 2019.
Dresser Industries was a multinational corporation headquartered in Dallas, Texas, United States, which provided a wide range of technology, products, and services used for developing energy and natural resources. In 1998, Dresser merged with its main rival Halliburton. Halliburton sold many of former Dresser non "oil patch" divisions, retaining the M W Kellogg Engineering and Construction Company and the Dresser oil-patch products and services that complemented Halliburton's energy and natural resource businesses. In 2001 Halliburton sold five separate, but somewhat related former Dresser non "oil patch" divisions, to an investment banking firm. Those five operations later took the name "Dresser Inc." In October 2010, Dresser Inc., was acquired by General Electric. It is headquartered in Addison, Texas.
Baker Hughes Company is an American energy company based in Houston, Texas. As one of the world's largest oil field services companies, it provides products and services for oil well drilling, formation evaluation, completion, production, and reservoir consulting. It operates in over 120 countries, with research and manufacturing facilities in Australia, Singapore, Malaysia, India, Dubai, Saudi Arabia, Italy, Germany, Norway, Oklahoma, Louisiana and Missouri. From 2017 to 2020, the company was majority owned by General Electric (GE); however, GE no longer owns an economic stake in the company. The company is incorporated in Delaware.
Hughes Tool Company was an American manufacturer of drill bits. Founded in 1908, it was merged into Baker Hughes Incorporated in 1987.
ZF Friedrichshafen AG, also known as ZF Group, originally Zahnradfabrik Friedrichshafen, and commonly abbreviated to ZF, is a global technology company that supplies systems for passenger cars, commercial vehicles and industrial technology. It is headquartered in Friedrichshafen, in the south-west German state of Baden-Württemberg. Specializing in engineering, it is primarily known for its design, research and development, and manufacturing activities in the automotive industry and is one of the largest automotive suppliers in the world. Its products include driveline and chassis technology for cars and commercial vehicles, along with specialist plant equipment such as construction equipment. It is also involved in the rail, marine, defense and aviation industries, as well as general industrial applications. ZF has 168 production locations in 32 countries with approximately 165,000 (2022) employees.
Allis-Chalmers was a U.S. manufacturer of machinery for various industries. Its business lines included agricultural equipment, construction equipment, power generation and power transmission equipment, and machinery for use in industrial settings such as factories, flour mills, sawmills, textile mills, steel mills, refineries, mines, and ore mills.
NOV Inc., formerly National Oilwell Varco, is an American multinational corporation based in Houston, Texas. It is a worldwide provider of equipment and components used in oil and gas drilling and production operations, oilfield services, and supply chain integration services to the upstream oil and gas industry. The company conducts operations in more than 500 locations across six continents, operating through three reporting segments: Rig Technologies, Wellbore Technologies, and Completion & Production Solutions.
Dover Corporation is an American conglomerate manufacturer of industrial products. The Downers Grove, Illinois-based company was founded in 1955. As of 2021, Dover's business was divided into five segments: Engineered Products, Clean Energy and Fueling, Imaging & Identification, Pumps & Process Solutions and Climate and Sustainability Technologies. Dover is a constituent of the S&P 500 index and trades on the New York Stock Exchange under "DOV". Dover was ranked 433rd in the 2022 Fortune 500. The company relocated its headquarters to Illinois from New York in mid-2010.
Bently Nevada is an asset protection and condition monitoring hardware, software and service company for industrial plant-wide operations. Its products are used to monitor the mechanical condition of rotating equipment in a wide variety of industries including oil and gas production, hydroelectric, wind, hydrocarbon processing, electric power generation, pulp and paper, mining, water and wastewater treatment. The company was founded in 1961 by Don Bently. Bently Nevada is headquartered in Minden, Nevada, about one hour south of Reno. Don Bently was the first to manufacture a commercially successful eddy-current proximity probe which measured vibration in high-speed turbomachinery by allowing the direct observation of the rotating shaft. The company also performed research in the field of rotordynamics, furthering knowledge of machinery malfunctions such as shaft cracks and fluid-induced instabilities. Its research also helped refine the equations used to describe vibratory behavior in rotordynamic systems.
Vetco was established in July 2004 and operated through its subsidiaries Vetco Gray and Vetco Aibel AS. Vetco was the result of a consortium consisting of the private equity firms Candover, 3i and JP Morgan Partners taking over ABB's oil and gas division; ABB Offshore Systems. Vetco was made out of companies that have serviced the upstream oil and gas industry since 1903. These companies are suppliers of products, systems and services for onshore and offshore drilling and production, project management, engineering, procurement and construction services, process systems and equipment, maintenance, modification and operations. Vetco was headquartered in London UK, and employed over 10000 people in more than 30 countries worldwide.
Stewart & Stevenson is a manufacturer and distributor of products and services for the oil and gas, marine, construction, power generation, transportation, mining and agricultural industries.
GE Power is an American energy technology company, owned by General Electric.
Cooper-Bessemer was a brand of industrial engines and compressors, manufactured in Mount Vernon, Ohio. The Cooper-Bessemer Corporation was formed when the C. & G. Cooper Company and the Bessemer Gas Engine Company merged in 1929. In 1965, the company was renamed to Cooper Industries and relocated to Houston, Texas. In the 1990s, Cooper Industries' Petroleum and Industrial Equipment Group was spun off to become Cooper Cameron Corporation, known as the Compression Systems group of Cameron International Corporation. Cooper Machinery Services is the current original equipment manufacturer for Cooper-Bessemer engines.
Zenith Oilfield Technology was an artificial lift service company founded in 2003 and based in Inverurie, United Kingdom with offices in Middle East, North Africa, China and Southeast Asia. In 2012, the company was acquired by Lufkin Industries for £81.1 million. Lufkin was in turn rolled into General Electric Oil and Gas, today part of Baker Hughes.
Dover Artificial Lift is an oilfield services company headquartered in The Woodlands, Texas. The company provides products and services for artificial lift during production of petroleum and natural gas. Dover Artificial Lift was a member of Dover Corporation until 2018, when it was spun off as part of Apergy Energy.
The machine industry or machinery industry is a subsector of the industry, that produces and maintains machines for consumers, the industry, and most other companies in the economy.
KPS Capital Partners is an American investment company that manages KPS Special Situation Funds, a family of investment funds. KPS specifically invests out of two funds raised in October 2019: KPS Special Situations Fund V and KPS Mid-Cap Fund.
GE Oil & Gas was the division of General Electric that owned its investments in the petroleum industry. In July 2017, this division was merged with Baker Hughes.
GE Digital is a subsidiary of the American multinational conglomerate corporation General Electric. Headquartered in San Ramon, California, the company provides software and industrial internet of things (IIoT) services to industrial companies.