LeTourneau Technologies

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LeTourneau Technologies, Inc. was an American manufacturer of heavy construction equipment founded by R. G. LeTourneau. In 2011, the company was acquired by Joy Global.

History[edit]

R. G. LeTourneau, also the founder of LeTourneau University, founded R.G. LeTourneau, Inc. in 1929 in California as a contractor of earthmoving equipment. LeTourneau manufactured products in Longview, Texas.[1]

During World War II, the company provided 70% of the Allies' earthmoving equipment. In 1954, it built the first jack-up drilling rig. In 1955, it made the first log-stacker machine. In 1965, the company made the first straddle carrier.

In 1970, just after the death of the founder, the company was sold to Marathon Manufacturing Company and was renamed Marathon LeTourneau Company.

In 1994, Rowan (now Valaris plc), which had used the company to manufacture its drilling rigs, acquired the company from General Cable for $50 million.[2][3]

In 2011, Rowan (now Valaris plc) sold LeTourneau Technologies to Joy Global.[4] Joy Global subsequently sold LeTourneau's Drilling, Marine, and Power divisions to Cameron International.[5]

In 2016, Keppel Corporation acquired LeTourneau Offshore Products (jackups, cranes, and elevating units) from Cameron, while Cameron retained the LeTourneau Drilling Products division.[6]

References[edit]

  1. ^ "Komatsu: Who We Are". Komatsu Limited.
  2. ^ "ROWAN COMPANIES INC, Form 10-K, Annual Report, Filing Date Mar 16, 2005". U.S. Securities and Exchange Commission.
  3. ^ "Rowan Buys Marathon LeTourneau From General Cable". AP News. November 10, 1993.
  4. ^ "Rowan Announces Agreement to Sell LeTourneau Technologies, Inc" (Press release). PR Newswire. May 16, 2011.
  5. ^ Koyitty, Bijoy (August 31, 2011). "Joy Global sells LeTourneau's drilling unit; shares up". Reuters.
  6. ^ Furr, Laura (August 31, 2015). "Cameron sells offshore rig business". American City Business Journals.

Further reading[edit]

  • LeTourneau, R.G. Mover of Men and Mountains, Autobiography (Prentice-Hall 1960, 1967; Reprint Moody Press 1967, 1972), ISBN 0-8024-3818-0
  • " The LeTourneau Legend", Equipment history, ISBN 0-646-27692-1 (Global General Publishing Pty Ltd; 1995, 1998, 3rd revised edition 2007)
  • " The LeTourneau Archive", Equipment history, ISBN 0-9585608-0-3 (Global General Publishing Pty Ltd; 2005)
  • " WABCO Australia", LeTourneau Australia history, ISBN 0-9585608-1-1 (Global General Publishing Pty Ltd; 2007)
  • " The WABCO Archive Wheel-Tractor Scrapers", Letourneau-Westinghouse scraper history, ISBN 978-0-9871503-0-1 (Global General Publishing Pty Ltd; 2011)