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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Cameron International Corp. | NYSE:CAM | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 66.01 | 0 | 01:00:00 |
From May 2019 to May 2024
NEW YORK--General Electric Co. (GE) on Monday agreed to buy Cameron International Corp.'s (CAM) reciprocating-compression unit for $550 million.
The Cameron division, which provides reciprocating-compression equipment and aftermarket parts and services for the oil and gas industry, employs about 900 people and had sales of about $355 million in 2012.
Cameron, a Houston oil-and-gas equipment maker, said it expects to post a loss of about $100 million on the sale, reflecting the write-off of goodwill.
Cameron also said it would explore strategic alternatives for its centrifugal-compression business, as the company moves to streamline its operations and focus on its core businesses.
General Electric said GE Oil & Gas, one of its fastest-growing units, will add the Cameron business to its recently formed downstream-technology-solutions unit.
Write to Colin M. Kellaher at colin.kellaher@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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