LUFKIN INDUSTRIES ANNOUNCES RECEIPT OF EXPORT ORDERS
LUFKIN INDUSTRIES ANNOUNCES RECEIPT OF EXPORT ORDERS LUFKIN, Texas, Nov. 21 /PRNewswire/ -- Lufkin Industries, Inc.
(NASDAQ: LUFK) announced the receipt of an additional $8.4 million export order for its oilfield products from the U.S.S.R. This order brings the total orders received from the U.S.S.R. for 1991 to $62.3 million. During the first quarter of 1991, the company shipped to the U.S.S.R. approximately $11.7 million. During the third quarter, the company shipped and has been paid for $23.8 million. The remaining $26.8 million of unshipped Soviet orders are scheduled for delivery of $10.0 million during the fourth quarter of 1991 and $16.8 million in 1992. The company's total net sales of oilfield equipment for 1990 was $66.9 million. Through nine months of 1991, the company has shipped $94.1 million of oilfield equipment.
Lufkin Industries, Inc. is the country's leading manufacturer of oilfield pumping units. The company designs, manufactures and sells oilfield products, industrial and marine gearing products and trailers. -0- 11/21/91 /CONTACT: C. James Haley, Jr., secretary-treasurer of Lufkin, 409-637-5555/ (LUFK) CO: Lufkin Industries, Inc. ST: Texas IN: OIL SU: JT-SM -- NY104 -- 6102 11/21/91 17:14 EST
|Printer friendly Cite/link Email Feedback|
|Date:||Nov 21, 1991|
|Previous Article:||USG CORP. ANNOUNCES NEW RESTRUCTURING PLAN WITH INVESTOR GROUP|
|Next Article:||ZAMBON LICENSES FOSFOMYCIN TROMETAMOL TO FOREST LABORATORIES|