GE (NYSE: GE) today announced that it has successfully completed its acquisition of Cameron’s Reciprocating Compression division for $550 million USD.
The division provides reciprocating compression equipment and aftermarket parts and services for oil and gas production, gas processing, gas distribution and independent power industries. Cameron’s Reciprocating Compression division has approximately 900 employees and operates from 20 global locations.
Cameron’s Reciprocating Compression division will now become part of Downstream Technology Solutions within GE Oil & Gas and will allow the company to better serve clients in the downstream and distributed gas segments. The business is designed to deliver products, services and packaged solutions for both the traditional downstream and the evolving unconventional oil and gas space.
About GE Oil & GasGE Oil & Gas works on the things that matter in the oil and gas industry. In collaboration with our customers, we push the boundaries of technology to bring energy to the world. From extraction to transportation to end use, we address today's toughest challenges in order to fuel the future. Follow GE Oil & Gas on Twitter @GE_OilandGas.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV