Lufkin Industries Completes Acquisition of Pentagon Optimization Services
LUFKIN, Texas, Sept. 1, 2011 /PRNewswire/ -- Lufkin Industries, Inc. (NASDAQ: LUFK) announced today the completion of its previously announced acquisition of Pentagon Optimization Services, Inc ("Pentagon"). Pentagon, based in Red Deer, Alberta, Canada is a diversified well optimization company serving the oil and gas industry that provides a wide range of products and services including plunger lift systems and well engineering and testing.
Lufkin Industries, Inc. sells and services oilfield pumping units, well automation systems, gas lift and plunger lift systems, foundry castings and power transmission products throughout the world. The Company has vertically integrated all vital technologies required to design, manufacture and market its products.
Forward Looking Statements
This release contains forward-looking statements and information that are based on management's beliefs as well as assumptions made by and information currently available to management. When used in this release, the words "anticipate," "estimate" and "expect" are intended to identify forward-looking statements. Such statements reflect the Company's current views with respect to its ability to resume normal operations in a timely fashion and are subject to certain assumptions, risks and uncertainties, many of which are outside the control of the Company. Actual results may vary materially.
Contact: |
Christopher L. Boone |
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Chief Financial Officer |
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936-631-2749 |
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DRG&L: |
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Jack Lascar / 713-529-6600 |
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Anne Pearson / 210-408-6321 |
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SOURCE Lufkin Industries, Inc.
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