LeTourneau assets sold for second time this year
by Associated Press
Published: September 6,2011
VICKSBURG — Joy Global Inc. has agreed to sell the drilling products business of LeTourneau to Cameron International Corp. for $375 million in cash.
The deal includes the operation in Vicksburg. LeTourneau’s drilling products business makes oil rig components and equipment.
The Vicksburg Post reports Joy Global, a mining services company, will retain a LeTourneau facility in Longview, Texas.
In June, Joy Global closed on a $1.1-billion deal with Houston, Texas-based Rowan Companies for all of LeTourneau’s operations.
Cameron International of Houston, Texas, is a provider of flow equipment products, systems and services to oil, gas and process industries worldwide.
The pending sale follows the departure early last week of the $150-million Joe Douglas jackup oil drilling rig from LeTourneau’s fabrication yard in Vicksburg.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Lawmakers debating alternative to Medicaid expansion
- UPDATED: House subcommittee tosses discrimination elements from religious freedom bill
- Chris McDaniel gets a thank you note from Travis Childers
- Senate passes teacher pay raise legislation
- Pickering collects more money from failed beef plant project
- States settle with manufacturers in DRAM price-fixing case
- White House hotel making comeback in Biloxi
- Reactive Surfaces files lawsuit against Toyota in patent dispute
- Nehi Bottling Company has been a Cleveland fixture for 85 years