started a joint venture with
for the supply of subsea multiphase pumping systems.
The financial trems of the deal were not disclosed.
Houston-based CAmeron said that the systems will include advanced technology that has been developed and patented by Curtiss-Wright's Flow Control segment, Electro-Mechanical Division.
The joint venture will operate as Cameron/Curtiss-Wright EMD.
Subsea multiphase pumping systems will allow customers to optimize production from offshore reservoirs in the Gulf of Mexico, West Africa, Brazil and other parts of the world.
The addition of multiphase pumping to the Cameron's current range of systems solutions will enable it to provide fully integrated subsea systems to meet the evolving needs of subsea processing and boosting, the company added.
Shares of Cameron were trading down $1.70, or 3.8%, to $43.19 Monday.
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