Curtiss-Wright Corporation announced that it has acquired certain assets and liabilities of Parylene Coating Services, Inc. (”PCS”) of Katy, TX for approximately $7.6 million in cash. PCS applies parylene coatings primarily for the medical device industry. The business will become part of Curtiss-Wright’s Metal Treatment segment.
“The acquisition of PCS fits our strategy of expanding Curtiss-Wright’s [...]

Rowan Companies, Inc. (NYSE:RDC - News) announced today that its wholly-owned subsidiary, LeTourneau Technologies, Inc., has entered into a contract to furnish a kit and license to Lamprell Energy, Ltd. for the construction of a third Super 116E class jack-up rig.
The rig will be built at Lamprell’s Jebel Ali facility located in the United Arab [...]

USR Technology, Inc. announce the closing of a definitive agreement, dated August 26th, 2008, completing the acquisition of certain assets from Shuayb K. Al Suleimany of Muscat, Oman previously described in a Letter of Intent, dated June 30, 2008.
The assets being acquired from Suleimany comprise a variety of drilling equipment including drill bits, stabilizers, survey [...]

Pacific Rubiales Energy Corp. announced that it has awarded, in conjunction with Ecopetrol S.A. (Ecopetrol), the construction of the Oleoducto de los Llanos Orientales Pipeline to the Consorcio Rubiales-Monterrey, a joint venture between Spiecapag and Ismocol (collectively, the Contractor).
This project will provide the company with a substantial reduction of transportation costs for Rubiales Crude to [...]

Ritchie Bros. Auctioneers, the world’s largest industrial auctioneer, conducted two, large unreserved auctions last week in Dubai, UAE and Los Angeles, California, generating gross auction proceeds of US$20 million and US$24 million, respectively. Close to half of the gross auction proceeds at the Los Angeles unreserved public auction (more than US$11 million or 49%) came [...]

China International Oil & Gas Conference
With an exhibition space of 25,000sq.m. and expected 12,000 trade visitors, the organizers are confident on achieving China’s second-ranked fair for this sector for the first year running.
General Information
As one of China’s leading shows for the oil & gas industry in the segments of petroleum & petrochemical equipment & technologies, [...]

Wajax Income Fund announced that its Industrial Components business unit, Kinecor, has agreed to acquire the assets of Weir Process Equipment, a division of Weir Canada Inc. for $25.4 million, subject to post-closing adjustments. The transaction is conditional on approval by the federal Competition Bureau. Closing will occur following receipt of approval which is expected [...]

Toromont Industries Ltd. announced today that it has filed with the Toronto Stock Exchange a notice of intention to make a normal course issuer bid for certain of its common shares through the facilities of the Toronto Stock Exchange. Under this notice, Toromont is entitled to purchase up to 4,638,854, representing 10% of its common [...]

The Timken Company is introducing a new M15 Modular Magnetic Encoder that provides more reliable feedback than optical encoders to keep motors and factory-automated equipment running longer, even in harsh environments.
Encoders are used to provide data on the speed and positioning of rotating motor shafts and equipment. Applications for encoders are found throughout many industries [...]

Joy Global Inc., a worldwide leader in high-productivity mining solutions, announced that China Mining Machinery, the Company’s wholly-owned subsidiary, has entered into a definitive agreement to acquire 100% of the outstanding shares of Wuxi Shengda, a Chinese manufacturer of longwall shearing machines, for $22.0 million, excluding closing costs. Wuxi Shengda primarily serves the markets for [...]