Lufkin Industries Inc (LUFK)

Lufkin Industries, Inc. manufactures and supplies oilfield and power transmission products for use in energy infrastructure and industrial applications. The company operates through two segments, Oil Field and Power Transmission. The Oil Field segment manufactures and services artificial lift products, including reciprocating rod lift equipment comprising air-balanced, beam-balance, crank-balanced, Mark II Unitorque, and hydraulic pumping units. It also transports and repairs pumping units; and refurbishes and sells used pumping units. In addition, this segment designs, manufactures, installs, and services computer control equipment and progressive cavity pumps; provides analytical services for artificial lift equipment; and operates an iron foundry to produce castings for new pumping units. The Power Transmission segment designs, manufactures, and services custom-engineered speed increasing and reducing gearboxes. This segment also manufactures capital spares for customers in conjunction with the production of new gearboxes, as well as produces parts for after-market service. In addition, it provides on and off-site repair and service for its own products and those manufactured by other companies. Further, this segment is involved in the analysis, design, and manufacture of precision, custom-engineered tilting-pad bearings and related components for high-speed turbo machinery operating in critical duty applications, as well as services, repairs, and upgrades turbo-expander process units for air and gas separation. The company markets its products and services primarily in the United States, Europe, Canada, Latin America, the Middle East, and North Africa. Lufkin Industries, Inc. was founded in 1902 and is headquartered in Lufkin, Texas. Lufkin Industries Inc. operates as a subsidiary of Baker Hughes Company.