Lufkin Industries Announces Acquisition of Datac Instrumentation and RealFlex
LUFKIN, Texas, Jan. 19, 2012 /PRNewswire/ — Lufkin Industries, Inc. (NASDAQ: LUFK) announced today that it has completed the acquisition of Datac Instrumentation Limited (“Datac”) and RealFlex Technologies Limited (“Realflex”) pursuant to an agreement of December 6, 2011. Datac, based in Dublin, Ireland, is a solutions company serving the oil and gas, power, water and waste water, and transportation and marine industries that provides systems integration for supervisory control and data acquisition (“SCADA”). RealFlex, also based in Dublin, provides real-time server software packages for SCADA and process control applications.
John F. “Jay” Glick, Lufkin’s President and Chief Executive Officer, stated, “These two acquisitions are expected to be accretive to Lufkin’s earnings in 2012 and accelerate our strategy of expanding our technical capabilities within our Automation portfolio. They also provide a state-of-the-art solution to Lufkin’s Automation SCADA needs and add very strong R&D personnel and process assets to the Automation portfolio.
“Datac’s newly developed SCADA information server is designed to integrate into multiple SCADA platforms via industry standard protocols. It represents the next generation of automation and is anticipated to become the future platform for Lufkin’s application server. These acquisitions also expand our Automation footprint into other energy-related industries such as power, water and waste water.
“These two acquisitions are a good cultural fit with Lufkin, and Ireland provides a business-friendly environment. We welcome Datac and RealFlex’s talented employees to the Lufkin family,” added Glick.
Lufkin Industries, Inc. is a global provider of artificial lift products, services and automation solutions for the oil and gas industry, including beam pumping, gas lift and plunger lift systems. Its Power Transmission segment also serves the energy and industrial sectors with engineered gearing solutions. Lufkin has vertically integrated all vital technologies required to design, manufacture and market its products.
Forward Looking Statements
This release contains forward-looking statements and information that are based on management’s beliefs as well as assumptions made by and information currently available to management. When used in this release, the words “anticipate,” “estimate” and “expect” are intended to identify forward-looking statements. Such statements reflect the Company’s current views with respect to its ability to resume normal operations in a timely fashion and are subject to certain assumptions, risks and uncertainties, many of which are outside the control of the Company. Actual results may vary materially.
Christopher L. Boone
Chief Financial Officer
Jack Lascar / 713-529-6600
Anne Pearson / 210-408-6321
SOURCE Lufkin Industries, Inc.
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