Cameron International is purchasing LeTourneau Technologies’ drillings systems and offshore products divisions. The flow equipment systems provider will buy the units from Joy Global Inc. for about $375 million in cash.
LeTourneau’s newly added portfolio of drilling equipment and rig components will expand Cameron’s current product range and boost growth opportunities for the drilling systems platform. Cameron was advised by Credit Suisse Securities (USA) and Porter Hedges.
Click here for the release from PR Newswire.