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|Subsidiary of Baker Hughes, a GE Company|
|Industry||Oil and Gas Equipment|
|Headquarters||Lufkin, Texas, U.S.|
|Lorenzo Simonelli (President/CEO of Baker Hughes)|
Number of employees
Lufkin Industries is an American manufacturing company based in Lufkin, Texas and one of the largest employers in the city. It was founded in 1902. Lufkin produces machinery such as power transmission gearboxes, oilfield pumping units and oilfield electrical equipment. Lufkin joined GE Oil & Gas in July 2013. GE Oil & Gas and Baker Hughes merged in 2017 to create Baker Hughes, a GE Company. The reach of the company is worldwide, with many of their products and services available on a global scale.
In 2013, Lufkin was acquired by General Electric for $3.3 billion, as part of GE's expanding Oil & Gas division, especially in the fast-expanding market to extract oil and natural gas from shale rock. On August 24, 2015 GE announced that they were closing and dismantling the Lufkin foundry, with 575 employees being laid off. In 2018, most production operations at the Lufkin facility were halted.
Lufkin's main focus is in the oil and gas equipment industry. Lufkin produces fully-automated hydraulic pumping units and lifts that are designed to extract natural gas from hard to reach oil reservoirs.
Power transmission products
Lufkin also produces transmissions, originally powered by gears produced by the company's own foundry before it was shut down in 2015, the gears are now mainly produced by Allen Gears, another Baker Hughes company.
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- Brown, Abram (Apr 8, 2013). "GE Will Purchase Lufkin Industries For $3.3B. So What Exactly Is It Buying?". Forbes. Retrieved 28 May 2019.
- "Company to Close Historic Downtown Lufkin Foundry". NBC DFW. Aug 24, 2015. Retrieved 29 May 2019.