Lufkin Industries, Inc. is a dynamic, energy-focused company operating in the Oilfield and Power Transmission segments. The Company’s Oilfield division designs, manufactures and services a broad suite of Artificial Lift equipment and Automation services to optimize and extend the production life of wells. The integration of Lufkin's Artificial Lift equipment, field service, and optimization software enables higher rates of production with lower lifting costs and extended service life. In the Power Transmission division, the Company designs, manufactures and services precision speed increasing gearboxes and specialized bearings for the energy industry and speed reducing gearboxes and couplings for other targeted industrial applications. In July 2013, General Electric Company (GE) has completed its acquisition of Lufkin Industries, Inc. As a result of the acquisition, Lufkin became a wholly owned subsidiary of GE.