September 2011, Vol. 238 No. 9

Business Meetings & Events

Cameron Acquires LeTourneau For $375M Cash

Cameron has agreed to acquire LeTourneau Technologies Drillings Systems and Offshore Products divisions from Joy Global Inc. for approximately $375 million in cash. The boards of Cameron and Joy Global Inc. have unanimously approved the transaction, which is subject to customary closing conditions. Closing is scheduled during the 4th quarter of 2011. LeTourneau is a well-established provider of drilling equipment and rig designs and components for both the land and offshore rig markets. LeTourneau’s products include elevating systems, skidding systems, cranes, top drives, rotary tables, draw works, mud pumps and rig control and power systems. “The addition of LeTo

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