GE Oil & Gas says it is acquiring the reciprocating compression business division of Cameron – a major equipment provider to the global oil and gas industries – including the company's aftermarket parts and services activities.
Cameron's high-speed reciprocating compressors are commonly found in large-scale gas gathering, lift and injection applications, but the core technologies are also applicable to compressed natural gas (CNG) usage.
The company's reciprocating compression division generated sales of approximately $355 million in 2012. GE Oil & Gas is buying the division for $550 million, and the deal is expected to close later this year.
