Lufkin-RMT, which is part of GE Oil & Gas’ newly acquired Lufkin Industries, opened its new 55,000-square-foot facility in Wellsville on Tuesday.

The new facility is more than twice the size of Lufkin-RMT’s previous space, and the company now employs 68 people – up from 60 in the last year – who are mainly high-skilled mechanics.

By the end of 2013, Lufkin Industries will have invested $8 million in the new facility, which designs and manufactures bearings for rotating equipment.

The facility was also supported with $850,000 in incentives from the Allegany County Industrial Development Agency and Empire State Development.

Lufkin-RMT is now located on Tarantine Boulevard. Lufkin first began its presence in Wellsville in 2009 when it purchased Rotating Machinery Technology.

The facility’s customers are in the oil and gas and air separation industries. Nearly 80 percent of the company’s overall business is done with international regions.