LUFKIN, Texas, Oct. 10 /PRNewswire-FirstCall/ -- Lufkin Industries,
Inc. (Nasdaq: LUFK) today announced that it has reached a new labor
agreement with the three unions representing the hourly work force at its
Lufkin manufacturing facilities. The three-year agreement expires in
October 2011.
Terms of the new agreement are not expected to impact the Company's
previously announced guidance for 2008 earnings per share and are in line
with the company's expectations.
Lufkin Industries, Inc. sells and services oilfield pumping units,
foundry castings, power transmission products and highway trailers
throughout the world. The Company 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.
Should underlying assumptions prove incorrect, actual results may vary
materially from those expected. The Company does not intend to update these
forward-looking statements and information.
Contact: Lufkin Industries
Christopher L. Boone, CFO
(936) 631-2749
DRG&E
Jack Lascar (713) 529-6600
Anne Pearson (210) 408-6321
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SOURCE Lufkin Industries, Inc.
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CONTACT:
Christopher L. Boone, CFO of Lufkin
Industries, Inc., +1-936-631-2749; or Jack Lascar,
+1-713-529-6600, or Anne Pearson, +1-210-408-6321, both of DRG&E,
for Lufkin Industries, Inc.
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