INDUSTRY news
Chrysler Group Invests in Indiana Casting Facility Chrysler Group LLC, Auburn
Hills, Mich., has announced plans to invest nearly $374 million to boost transmission production and add ap- proximately 1,250 new jobs in north- central Indiana, making it the largest transmission installation in the world.
Kokomo Transmission, Kokomo Casting and Indiana Transmission I Plants will receive $212 million for additional tooling and equipment to produce eight- and nine-speed transmissions, adding up to 400 new jobs, subject to market conditions.
Work on the facilities is scheduled to begin in the second quarter 2013, with equipment and tooling to be installed in the fourth quarter 2013. Other investments include the
Tipton Transmission Plant, where the group has designated $162 million to establish an additional assembly site for a nine-speed transmission, creating up to 850 new jobs, subject to market conditions. Production at the site will begin in the fi rst quarter of 2014. “These new investments and new
Pictured are (left to right) Kokomo Plant Manager Brad Clark, Chrysler Group LLC Chairman and CEO Sergio Marchionne, Indiana Governor Mike Pence, and Kokomo Mayor Greg Goodnight celebrating the investment at the Kokomo Transmission Plant.
jobs are a testament to the deter- mination we all had—management, labor and our workforce—to making the best of the second chance we were given in 2009,” said Ken Lortz, UAW Regional Director. “In partnership with the UAW, Chrysler Group is helping grow good paying manufacturing jobs and securing the future manufacturing base in this country.” In total, Chrysler Group’s invest- ments in its U.S. facilities have risen to nearly $5.2 billion since June 2009. In the same time frame, the company has added nearly 8,000 U.S. hourly jobs.
GE to Acquire Lufkin Industries, Including Lufkin Foundry GE, Houston, and Lufkin Indus-
tries Inc., Lufkin, Texas, have an- nounced a joint agreement whereby GE will acquire Lufkin for approxi- mately $3.3 billion. Included in the acquisition is the
Lufkin Foundry and Machine Com- pany in Lufkin, Texas. It produces medium to large, low to medium volume ductile and gray iron cast- ings for industries including valves, machine tools, renewable energy, oil and gas, waste water treatment, pumps and compressors, as well as construction equipment, agriculture and special machinery. Lufkin Industries Inc. provides
artificial lift technologies for the oil and gas industry and is a manufac- turer of industrial gears. Artificial
lift, used in 94% of the roughly 1 million oil-producing wells around the world, helps lift hydrocarbons to the surface in reservoirs with low pressure and improves the efficiency of naturally flowing wells. This acquisition broadens GE Oil & Gas artificial lift capabilities beyond electric submersible pumps (ESPs) to include rod lift, gas lift, plunger lift, hydraulic lift, progres- sive cavity pumps and well automa- tion and production optimization controls and software. The ESP category of artificial lift is the only lift segment in which Lufkin does not currently compete. “Advanced technologies, combined
with new drilling practices, are revo- lutionizing the oil and gas industry,”
8 | METAL CASTING DESIGN & PURCHASING | May/Jun 2013
said Daniel C. Heintzelman, presi- dent and CEO, GE Oil & Gas. “T e artifi cial lift segment is at the heart of critical changes that are helping producers maximize well potential, which translates into increased output at lower operational cost.” With approximately 4,500 em-
ployees in more than 40 countries, Lufkin posted record revenues of $1.3 billion in 2012, a 37% growth. New business bookings in 2012 grew 38% companywide to $1.3 bil- lion year over year, driven by a 47% increase in its artificial lift business. The transaction is expected to
close in the second half of 2013 sub- ject to Lufkin shareholders’ approval, regulatory approvals and customary closing conditions.
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