LeTourneau workers might keep jobs after acquisition
Published: May 18,2011
VICKSBURG — Officials say the sale of mining and oil and gas drilling equipment maker LeTourneau isn’t expected to result in job losses at its plant south of Vicksburg.
Plant manager Bo-D Massey tells The Vicksburg Post work will resume at the facility once flood waters covering the main access road recedes.
Joy Global will pay Rowan Companies $1.1 billion in cash for LeTourneau. The boards of both companies have approved the deal and if approved by regulators, it should close within 60 days, Joy said.
Massey says workers still have a rig to finish. The major job at the yard is the $150-million Joe Douglas, third in a line of 240-C class shallow water rigs built in Vicksburg.
Source: Vicksburg Post
To sign up for Mississippi Business Daily Updates, click here.
Mississippi Economic Council
Mississippi Chambers of Commerce
Mississippi State Legislature
Mississippi Development Authority
Mississippi Economic Development Council
North Mississippi News
Social Security Disability Lawyer
Auto Accidents Lawyer
Top Posts & Pages
- Aluminum company rumored for Columbus: 'clock' is for website, not plant site
- Shale oil: market correction or longterm direction?
- Miss. surgeon sentenced in tax evasion case
- MBJ exclusive: Jackson’s new airport CEO fulfills desire to taking on the top job
- WILLOUGHBY: Mayo Flynt leads AT&T Mississippi by enjoying both work and workers
- MARTIN WILLOUGHBY: Gary Herring building tomorrow by educating today
- 'Blue Economy' important for Mississippi's future
- J.McLaughlin to open in Highland Village next spring
- Hyatt-Place is Columbus’ newest hotel option