Edit ModuleShow Tags

GE Finalizes Cameron Recip Purchase

Purchase strengthens new downstream division


Published:

GE has completed the US$550 million acquisition of Cameron’s reciprocating compression business, which had been announced in January.

It was merged into the GE Oil & Gas Downstream Technology Solutions business, which was recently formed to deliver products and services and packaged products for the traditional downstream and unconventional oil and gas markets.

The Cameron division generated sales of US$355 million in 2012, has 900 employees and operates from 20 global locations. It complemented GE’s low-horsepower recip business by adding higher horsepower models used in gas gathering, processing and transmission.

Jack Moore, Cameron chairman, president and CEO, said, “The divestiture of our reciprocating compression business is consistent with our strategy to build on strong sales and order momentum in our core markets while selectively expanding product and service offerings in strategic growth areas. On behalf of our entire organization, I’d like to thank reciprocating compression employees for their many contributions to Cameron and wish them well at GE.”

Cameron also had announced in January that it was considering the sale of its centrifugal compression business as part of its refocusing on core markets.

 

Edit ModuleShow Tags

Archive »Archive »

Answer: Promised Land - July 2015

Promised Land - July 2015

Ariel Ships 50,000th Compressor

Ariel Corp. has shipped its 50,000th compressor – the KBB/6. The equipment, however, isn’t leaving the state of Ohio.

GE Reaches Milestone At Dominion’s Cove Point

GE Oil & Gas has shipped two liquefied natural gas (LNG) compressor trains, which are allocated for the development of Dominion’s Cove Point LNG export facility.

GTUIT Receives ISO 9001:2008 Certification

GTUIT, LLC has received ISO 9001:2008 certification for its manufacturing quality management system.