facebook
twitter
rss
account
search
search
 

GE to buy Cameron International's reciprocating compression business

Jan. 20, 2014 at 12:54 PM   |   Comments

HOUSTON, Jan. 20 (UPI) -- General Electric Co. said it would buy a division of Cameron International Corp., a Houston oil and gas equipment producer, for $550 million.

GE said it would buy Cameron's reciprocating compression business. Cameron, concurrently, said the sale would allow it to concentrate on its core centrifugal compression unit, the Wall Street Journal reported Monday.

GE said it was buying Cameron to add to its downstream solutions group.

Cameron's reciprocating compression unit has a workforce of about 900 people. Sales in 2012 were about $355 million, the Journal said.

© 2014 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
Notable deaths of 2014 [PHOTOS]

Notable deaths of 2014 [PHOTOS]

Most Popular
1
Iran boasts of nuclear energy potential
2
U.S. Navy receives new attack submarine
3
A400M demos refueling capability using Cobham equipment
4
Russian military receives upgraded helicopters
5
U.S. not open for Kurdish oil, Baghdad says
Trending News
Video
x
Feedback