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LI nation's No. 64 fastest growing company

Posted: 09/16/2006
Author: Hina Alam

Lufkin Industries has another feather in its cap. The September issue of Fortune magazine has ranked the company as No. 64 on its list of America's 100 fastest growing companies.

With a net income in the past four quarters of $52.3 million and a revenue of $524.2 million for the past four quarters, the 104-year-old Lufkin Industries had a sales jump of 38 percent in 2005.

Lufkin Industries is honored and proud to be recognized by Fortune magazine, said Paul Perez, vice president, general counsel and secretary for Lufkin Industries. "We hope that our shareholders and employees also enjoy the national recognition that's given to Lufkin Industries," he said.

When asked if this recognition by Fortune would change anything for the company, he said, "There will be no change in our normal operations. We'll continue our efforts to improve our products and services which have provided a 104-year history for the company." The company is challenged every day throughout the world to demonstrate that its products are best for its customers, he said.

Perez said the company had no advance notice of their recognition by Fortune.

Since March 1, the company has added 110 new employees and is looking to hire skilled machinist and welders in the Lufkin area.