Lufkin Industries names new board member

LUFKIN, TX (AP) - Oilfield services and equipment company Lufkin Industries Inc. announced Friday the election of Richard R. Stewart to its board of directors.

Stewart, 59, served as president and CEO of GE Aero Energy, a division of GE Energy, and as an officer of General Electric Co., from 1998 until his retirement in December 2006.

He currently serves on the boards of Kirby Corp. and Eagle Materials.

The company could not immediately provide details about whether Stewart's appointment will increase the size of the board, or if he is replacing another member.

Shares of Lufkin rose 43 cents to $47.60.

Copyright 2009 Associated Press. All rights reserved. This material may not be published broadcast, rewritten, or redistributed.