LUFKIN, TX (KTRE) - Lufkin had a very special guest Friday morning at the Angelina County Chamber of Commerce's First Friday Luncheon.
George Kunder, the Lufkin Integration Leader for General Electric Company, spoke to dozens of people about future plans for the city's acquisition of the company. He says some of the key things they are planning are investments in technology. He said the meeting marks a little over one-year since the merger was completed.
"[The] biggest things we see, for sure, are investment in technology, investment in the capability to grow and serve the markets here in the U.S., but also to grow the business globally. Lots of focus on talent development and leveraging some of the infrastructure GE has around the world," Kunder said.
Back in April of 2013, Lufkin Industries, Inc. announced shareholders had approved the Agreement and Plan of Merger with General Electric Company and Red Acquisition, Inc., according to a press release. In a previous East Texas News story, the deal cost about $3 billion.
In the story, GE said it would pay Lufkin shareholders $88.50 per share in the all-cash deal, a 38 percent premium over Lufkin’s closing price of $63.93. The companies valued the deal at $3.3 billion.