Lufkin Industries, Inc.
(NASDAQ : LUFK)

( )
LUFK PreMarket: $ () as of AM
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Industrial Services » Oilfield Services Or Equipment
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Company Profile

Lufkin Industries is a global supplier of oilfield and power transmission products. The company designs, manufactures, markets and services oilfield pumping units, well automation systems, gas lift and plunger lift systems, progressing cavity pumps, well completion products, foundry castings and power transmission products. It manufactures down-hole reciprocating pumps that work with the surface equipment to bring liquids from the reservoir to the surface; and manufactures basic pumping units, including air-balanced, beam-balanced, crank balanced, Mark II Unitorque, and hydraulic units. Lufkin Industries supplies beam pumping units for rod lift applications; and designs, manufactures, installs and services automated control equipment and analytical products for artificial lift equipment. The company operates through two segments: Oilfield and Power Transmission. The Oilfield segment designs, manufactures and services artificial lift equipment and related products, which are used to extract crude oil and other fluids from wells. Its artificial lift equipment includes reciprocating rod, gas, plunger and hydraulic lift equipment, progressive cavity pumps and related well-site products. The Power Transmission segment designs, manufactures and services precision speed increasing gearboxes, bearings and high horsepower, and speed reducing gearboxes and couplings for the energy industry and other targeted industrial applications. Its high speed and turbo gears are single stage gearboxes with pitch line velocities, which are used in petrochemical production, refining, offshore oil production, oil and gas transmission, natural gas liquefaction and electrical power generation. The company's low speed industrial gears are used in metals processing, tire and rubber production, sugar, paper, steel, plastics, mining and cement processing and marine propulsion. Lufkin Industries was founded by Joseph Hubert Kurth, Sr., Frank Kavanaugh, Sr., Frank Kavanaugh, Jr., Eli Wiener and Simon Wood Henderson, Sr. on March 4, 1902 and is headquartered in Lufkin, TX.