Big Profit Jump for Lufkin Industries
Posted/updated on: July 21, 2011 at 4:59 pm
NEW YORK (AP) — East Texas-based Lufkin Industries says that second-quarter profit jumped 74% as higher oil prices boosted demand for the company’s services. Lufkin President and CEO John Glick said yesterday orders for company services are on the rise in both its oil field and power transmission divisions.
