June 9 (Reuters) - Baker Hughes ( BKR ) said on Monday

it will sell its precision sensors and instrumentation (PSI)

product line to aerospace and defense parts manufacturer Crane

for $1.15 billion, as the oilfield services provider

looks to optimize its portfolio.

CEO Lorenzo Simonelli has been reshaping Baker Hughes ( BKR ) to

adapt to the global energy transition, shedding non-core assets

while investing in cleaner energy solutions.

The company has leaned on its portfolio refinement

efforts to boost earnings and cash flow durability as the oil

industry grapples with weak spending on oilfield activity.

Baker Hughes ( BKR ) last week sold 65% of its surface pressure

control business to a unit of equipment maker

Cactus

for $334.5 million.

The PSI includes three brands - Druck, Reuter-Stokes and

Panametrics - which supply pressure sensing, radiation detection

and flow measurement technologies used across aerospace, nuclear

as well as industrial markets.

The unit is projected to generate about $390 million in

revenue and $60 million in adjusted EBITDA in 2025.

The transaction is expected to close at the end of 2025

or early 2026, Baker Hughes ( BKR ) said.

(Reporting by Vallari Srivastava in Bengaluru; Editing by Anil

D'Silva and Shreya Biswas)