LeTourneau assets sold for second time this year
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
- Jackson’s Landmark Center slated for mixed-use conversion
- ANITA MODAK-TRURAN — Mississippi’s motion picture renaissance
- WRESTLING SUCCESS — Ted DiBiase Jr. leaves ring to become entrepreneur
- Race to the pump: Feds appear ready to beat state on new gas taxes
- Senate transportation chair seeks emergency money for roads, bridges
- Challenging times ahead for Pearl’s manufactured home residents, apartment complex owners
- Nehi Bottling Company has been a Cleveland fixture for 85 years
- Irby commits suicide after wife's prison release
- 3 dozen groups OK'd for Miss. specialty car tags