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.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Alcorn president launches new customer service task force
- NEW IN MADISON COUNTY — Mississippi Bio-Medical Business Collaboratory to be introduced Friday
- David Duval, former British Open winner, joins Sanderson Farms field
- Court rules against Greenwood councilwoman; must give up office
- GreenTech holds grand opening of neighborhood electric vehicle plant
- Turner Grain’s bankruptcy will help consolidate lawsuits alleging breach of contract
- Cochran continues to reach out to African American voters
- Peoples Bank reports quarterly loss due to bad loans
- Senators write letter over Waters of the United States proposal