PRTODAY / NewswireToday Free press release distribution service network

More news: Energy
Written by / Agency / Source: General Electric Company

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

GE Oil & Gas Planning $60M Investment in Lufkin, Texas, Foundry to Better Meet Global Demand for Well Production Equipment and Power Transmission Equi - GE Oil & Gas Planning $60M Investment in Lufkin, Texas, Foundry to Better Meet Global Demand for Well Production Equipment and Power Transmission Equipment - GE.com
GE Oil & Gas Planning $60M Investment in Lufkin, Texas, Foundry to Better Meet Global Demand for Well Production Equipment and Power Transmission Equi

 

NewswireToday - /newswire/ - Lufkin, TX, United States, 2014/11/06 - GE Oil & Gas Planning $60M Investment in Lufkin, Texas, Foundry to Better Meet Global Demand for Well Production Equipment and Power Transmission Equipment - GE.com. NYSE: GE

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

• Company Planning Overhaul of 112-Year-Old Foundry;
• Upgrades to Improve Production Efficiency, Quality and Delivery Capabilities;
• Investment Reflects GE’s Continued Commitment to Lufkin, Texas, Workforce and Community.

Seeking to improve and sustain its manufacturing capabilities to meet the growing demand for oil and gas production and power transmission equipment, GE Oil & Gas today announced it plans to invest $60 million in expanding and modernizing its foundry operations in Lufkin, Texas. The Lufkin foundry produces industry-leading iron castings used to make renowned Lufkin beam pumping units and Lufkin power transmission equipment.

GE plans to demolish 30,000 square feet of its existing 515,000-square-foot facility and construct 72,000 square feet of new buildings. The company also plans to refurbish the remaining facilities at the site in Angelina County.

The facility upgrades will create a simplified production process flow, improve employee working conditions and provide GE’s customers with improved quality and delivery schedules.

The Lufkin foundry originally began operating in 1902. While there have been various upgrades to the foundry throughout its history, this proposed investment would infuse the site with modern technology and practices to reduce emissions and boost production efficiency in an increasingly competitive global marketplace.

“We chose to invest in modernizing and improving our existing foundry because of the rich history and dedicated, skilled workforce associated with the Lufkin operation here in Texas,” said Jerome Luciat-Labry, president of Well Performance Services for GE Oil & Gas. “The goal is to make the facility as efficient as possible and help strengthen the competitive position of our business around the world. We are excited about continuing to support manufacturing jobs in the United States and especially here in Angelina County where Lufkin Industries began.”

“By having its own foundry, GE Oil & Gas has a strategically integrated supply chain that allows the company to more rapidly meet the needs of its customers, particularly in the fast-growing unconventional oil and gas sector,” said Luciat-Labry.

Design work for the project is expected to begin in 2014. As currently proposed and pending government approvals and permits, construction would be carried out in four phases commencing in 2016. Under that schedule, construction is expected to be complete in about three years.

The foundry manufactures gray and ductile iron castings, producing an estimated 72,000 tons of products each year. About 87 percent of the foundry’s products are used to supply GE’s own Lufkin factories while the remainder is sold externally to other customers.

The modernization of the Lufkin facility is expected to keep the foundry operating for generations to come and continue to provide jobs in the local economy.

GE’s planned $60 million investment reflects the company’s continued commitment to the Lufkin business and community. These renovations will not only improve safety and efficiency, but also will allow the foundry to continue operating for the foreseeable future.

In 2013, GE announced it completed its acquisition of Lufkin Industries for approximately $3.3 billion. The move broadened GE Oil & Gas’ artificial lift capabilities with solutions for a wider variety of well types and technology for production automation and optimization in the drilling industry. GE has invested more than $85 million in the Lufkin business globally since the acquisition.

About GE
GE (ge.com) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works.

About GE Oil & Gas
GE Oil & Gas works on the things that matter in the oil and gas industry. In collaboration with our customers, we push the boundaries of technology to bring energy to the world. From extraction to transportation to end use, we address today's toughest challenges in order to fuel the future.

Contact: Tom Murnane / Kate Culman - Masto Public Relations
P: +1 518-786-6488
E: tom.murnane[.]mastopr.com / kate.culman[.]mastopr.com.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: General Electric Company

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Energy articles,
CATCH Visitors via Your Competitors Announcements!


GE Oil & Gas Planning $60M Investment in Lufkin, Texas, Foundry to Better Meet Global Demand for Well Production Equipment and Power Transmission Equi

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

GE Oil & Gas | Lufkin Foundry
Publisher Contact: Laura Bauer - GE Oil & Gas-Well Performance Servic 
405-628-7903 (mobile) laura.bauer[.]ge.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any General Electric Company securities in any jurisdiction including any other companies listed or named in this release.

Energy via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From General Electric Company / Company Profile


Read Energy Most Recent Related Newswires:

ENGIE and Statoil Agree on the Renegotiation of Their Long-term Gas Supply Contracts
ENGIE and AES Andres Leverage Core Strengths to Provide Reliable and Competitive LNG Supply in the Caribbean
Power Costs, Inc. (PCI) and GE Power Collaborate to Link Energy Operations with Energy Trading for End-to-End Machine to Market Software Solutions
GE Oil & Gas Signs Agreement with TAG GmbH to Install New Tuning Maintenance (TUMAS) Software on Entire Fleet of Gas Turbines
ENGIE Announces Two New Major Collaborations to Foster New Innovative Green Gas Production Methods Across Europe
Enel Inaugurates Apiacás Hydropower Complex in Brazil
Steam and Gas Turbine Manufacturers Realign Strategies to Harness Growth Opportunities within Clean Power Generation
Enel Starts Construction of Peru’s Largest Solar PV Plant
GE and Maersk Drilling to Pilot Marine Digital Transformation
SolarWinds to Join the Discussion on Interoperable IT Management for Defense Forces at AFCEA’s TechNet Asia-Pacific 2016
BP and GE Launch New Offshore Digital Technology with Plans to Deploy Globally
GE Digital Acquires ServiceMax to Extend Predix and Analytics Across Field Service Processes
GE Digital Launches Collaborative App Development Program to Expand Digital Industrial Ecosystem
Voith Awarded A Prestigious Automation Contract for Two Norwegian Hydropower Plants
Joint Wind Farm Pilot Project by ENGIE, EDP Renewables, La Caisse Des Dépôts, Eiffage/Principle Power, GE Selected from Call for Floating Wind Turbine

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  NAKIVO, Inc.

Visit  BizJobs.com





 
  ©2016 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)