GE has completed the acquisition of Cameron’s Reciprocating Compression division for US$ 550 million.
The division provides reciprocating compression equipment and aftermarket parts and services for oil and gas production, gas processing, gas distribution and independent power industries. It operates from 20 global locations and has approximately 900 employees
Cameron’s Reciprocating Compression division will now become part of Downstream Technology Solutions within GE Oil & Gas.
GE believes that the division will enable it to better serve clients in the downstream and distributed gas segments. The business is designed to deliver products, services and packaged solutions for both the traditional downstream and the evolving unconventional oil and gas space.
Jack Moore, Cameron Chairman, President and Chief Executive Officer stated: "The divestiture of our Reciprocating Compression business is consistent with our strategy to build on strong sales and order momentum in our core markets while selectively expanding product and service offerings in strategic growth areas. On behalf of our entire organisation, I'd like to thank Reciprocating Compression employees for their many contributions to Cameron and wish them well at GE."