Edit ModuleShow Tags

GE to Acquire Cameron’s Reciprocating Compression Division

Division to become part of GE’s Downstream Technology Solutions business


Published:

GE Oil & Gas has agreed to acquire Cameron’s Reciprocating Compression division for US$550 million. The division provides reciprocating compression equipment and aftermarket parts and services for oil and gas production, gas processing, gas distribution and independent power industries.

Cameron’s Reciprocating Compression division, which generated sales of approximately US$355 million in 2012, has 900 employees and operates from 20 global locations. The acquisition is expected to close later this year subject to regulatory approval.

After closing, Cameron’s Reciprocating Compression division will become part of GE’s Oil & Gas recently formed Downstream Technology Solutions business in order to better serve the US$11 billion downstream and distributed gas segments. The new business is designed to deliver products, services and packaged products for both the traditional downstream and evolving unconventional oil and gas space.

The acquisition complements GE’s Oil & Gas’ existing High-Speed Reciprocating (HSR) business, which focuses in low horsepower units that are used predominately in gas lift applications. Cameron’s Reciprocating Compression division portfolio complements GE’s business by adding higher horsepower models used in gas gathering, processing and transmission.

Updated March 2014: GE Acquiring Camerons Recip Division

Updated June 2014: GE Finalizes Cameron Recip Purchase

Edit ModuleShow Tags

Archive »Archive »

Roberto Chellini

It is with great sadness that we report the passing of Roberto Chellini recently in Florence, Italy. He was 82 years old.

Nat Gas Output Expected To Grow 62%

Worldwide natural gas production is expected to increase 62% by 2040, according to the U.S. Energy Information Administration’s (EIA’s) International Energy Outlook 2016 and Annual Energy Outlook 2016.

Capstone Puts Its Signature On New Order

Capstone Turbine Corp. received an order for two Signature Series microturbines (the C1000S and C600S) for an oil and gas platform off the California coast.

A New Way For Bently

New Way Air Bearings has acquired the assets of Bently Pressurized Bearing Co., Minden, Nevada.

Siemens Invests in Additive Manufacturing

Siemens has acquired 85% of Materials Solutions Ltd., a specialist in additive manufacturing (AM) processing and production, located in Manchester, U.K. The remaining 15% will be held by the founder of the company, Carl Brancher.