LUFKIN INDUSTRIES ANNOUNCES RECEIPT OF EXPORT ORDERS
LUFKIN INDUSTRIES ANNOUNCES RECEIPT OF EXPORT ORDERS LUFKIN, Texas, Jan. 28 /PRNewswire/ -- Lufkin Industries, Inc.
(NASDAQ: LUFK) today announced the receipt of its first 1992 order for its oilfield products from the Russian Republic in the amount of $8.4 million. During 1991, the company received from the Russian Republic orders totaling $50.2 million and shipped $43.7 million including $11.7 million of orders received in December 1990. The company has already received payment for most of these shipments. The remaining $26.6 million of unshipped orders will be shipped during the first half of 1992. The company's total sales of oilfield equipment for 1990 was $66.9 million and for 1991 was $124.1 million.
Lufkin Industries, Inc. is the country's leading manufacturer of oilfield pumping units. The company designs, manufactures and sells oilfield products and industrial and marine gearing products. -0- 1/28/92 /CONTACT: C. James Haley, Jr., secretary-treasurer of Lufkin Industries, 409-637-5555/ (LUFK) CO: Lufkin Industries, Inc. ST: Texas IN: OIL SU: CON
JT-TS -- NY061 -- 4256 01/28/92 12:39 EST
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|Date:||Jan 28, 1992|
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