Dresser-Rand Agrees to amass Arrow Industries, Inc. and Completes Acquisition of Assets of Enginuity LLC Monday, Aug 11, 2008
HOUSTON, Aug. eight /PRNewswire-FirstCall/ -- Dresser-Rand cluster opposition. ("Dresser-Rand" or the "Company") (NYSE:DRC) , a worldwide provider of rotating instrumentation to the oil, gas, organic compound, and method industries, declared nowadays that its affiliates have entered into 2 acquisition agreements. every is according to the company's strategy of effort merchandise, services, and technologies that supply access to new markets or enhance current market positions, and every can alter Dresser-Rand to expand services to its shoppers. The acquisitions area unit expected to be neutral to earnings within the initial year and increasing thenceforth. Terms of the agreements weren't disclosed.
Arrow Industries, Inc.
Dresser-Rand Services, LLC has signed associate agreement to amass all of the stock of Arrow Industries, Inc. ("Arrow Industries" or "Arrow"). The agreement is anticipated to shut in late August.
Established in 1982, Arrow Industries could be a premier supplier of foundation and mechanical services for reciprocal engines and compressors utilized in the North yankee pipeline trade. With four facilities within the U.S., Arrow could be a Dresser-Rand foundation services supplier, and is knowledgeable about in implementing and conjugation Dresser-Rand and similar OEM instrumentation. In 2007, Arrow reported sales of roughly $30 million.
A significant portion of Arrow's sales comes from conjugation instrumentation from makers aside from Dresser-Rand. This various conjugation experience supports Dresser-Rand's Applied Technology strategy and can permit it to develop markets that area unit expected to extend earnings for the corporate.
"Dresser-Rand and Arrow Industries have worked along within the past, and every has decades of expertise providing innovative solutions within the energy markets," same Vincent R. Volpe Jr., president and chief executive officer of Dresser-Rand. "Both corporations area unit famed for quality, economy, and responsibility that bring else worth to their shoppers. The acquisition of Arrow Industries strengthens Dresser-Rand's business and can enhance our ability to raised serve the pipeline trade and different markets."
Larry Chamberlain, president of Arrow Industries, added, "This isn't solely an excellent occasion for Arrow, however conjointly an excellent chance to expand current capabilities and supply shoppers with the advantages that atiny low company offers, backed by the resources and solutions of a number one OEM."
Enginuity LLC
Dresser-Rand Company conjointly declared the closing of associate agreement to amass the assets of Enginuity LLC ("Enginuity") a non-public, U.S.-based supplier of combustion and chemical change emissions technology solutions, controls and automation, and aftermarket services for reciprocal gas engines utilized in the gas transmission market. In 2007, Enginuity reported sales of roughly $16 million.
Focused on the North yankee gas transmission market, Enginuity is that the technology solutions leader for reducing gas-fired engine emissions and for engine and mechanical device controls and observation. In reference to this acquisition, Dresser-Rand can establish its ICE Technology Center in Fort Collins, Colorado, that has served as Enginuity's headquarters since 1999.
"Enginuity can strengthen Dresser-Rand's engine technology position and worth proposition within the gas transmission market, and enhance Dresser-Rand's Applied Technology capabilities," same Volpe. "Together, Dresser-Rand and Enginuity expect to play a number one role within the development and readying of technology solutions to scale back dioxide emissions from mechanical device systems," he emphasised.
"Dresser-Rand represents a robust and well established whole," same Chad dramatist, founder and chief executive officer of Enginuity. "When combined with Dresser-Rand's extremely designed merchandise and international sales and repair capabilities, this whole provides the platform by that Enginuity will notice its vision of 'bringing energy and also the atmosphere into harmony.'"
Dresser-Rand is among the most important suppliers of rotating instrumentation solutions to the worldwide oil, gas, organic compound, and method industries. the corporate operates producing facilities within the u. s., France, U.K., Germany, Norway, India, and China, and maintains a network of thirty service and support centers covering over one hundred forty countries.
Source: PR Newswire
HOUSTON, Aug. eight /PRNewswire-FirstCall/ -- Dresser-Rand cluster opposition. ("Dresser-Rand" or the "Company") (NYSE:DRC) , a worldwide provider of rotating instrumentation to the oil, gas, organic compound, and method industries, declared nowadays that its affiliates have entered into 2 acquisition agreements. every is according to the company's strategy of effort merchandise, services, and technologies that supply access to new markets or enhance current market positions, and every can alter Dresser-Rand to expand services to its shoppers. The acquisitions area unit expected to be neutral to earnings within the initial year and increasing thenceforth. Terms of the agreements weren't disclosed.
Arrow Industries, Inc.
Dresser-Rand Services, LLC has signed associate agreement to amass all of the stock of Arrow Industries, Inc. ("Arrow Industries" or "Arrow"). The agreement is anticipated to shut in late August.
Established in 1982, Arrow Industries could be a premier supplier of foundation and mechanical services for reciprocal engines and compressors utilized in the North yankee pipeline trade. With four facilities within the U.S., Arrow could be a Dresser-Rand foundation services supplier, and is knowledgeable about in implementing and conjugation Dresser-Rand and similar OEM instrumentation. In 2007, Arrow reported sales of roughly $30 million.
A significant portion of Arrow's sales comes from conjugation instrumentation from makers aside from Dresser-Rand. This various conjugation experience supports Dresser-Rand's Applied Technology strategy and can permit it to develop markets that area unit expected to extend earnings for the corporate.
"Dresser-Rand and Arrow Industries have worked along within the past, and every has decades of expertise providing innovative solutions within the energy markets," same Vincent R. Volpe Jr., president and chief executive officer of Dresser-Rand. "Both corporations area unit famed for quality, economy, and responsibility that bring else worth to their shoppers. The acquisition of Arrow Industries strengthens Dresser-Rand's business and can enhance our ability to raised serve the pipeline trade and different markets."
Larry Chamberlain, president of Arrow Industries, added, "This isn't solely an excellent occasion for Arrow, however conjointly an excellent chance to expand current capabilities and supply shoppers with the advantages that atiny low company offers, backed by the resources and solutions of a number one OEM."
Enginuity LLC
Dresser-Rand Company conjointly declared the closing of associate agreement to amass the assets of Enginuity LLC ("Enginuity") a non-public, U.S.-based supplier of combustion and chemical change emissions technology solutions, controls and automation, and aftermarket services for reciprocal gas engines utilized in the gas transmission market. In 2007, Enginuity reported sales of roughly $16 million.
Focused on the North yankee gas transmission market, Enginuity is that the technology solutions leader for reducing gas-fired engine emissions and for engine and mechanical device controls and observation. In reference to this acquisition, Dresser-Rand can establish its ICE Technology Center in Fort Collins, Colorado, that has served as Enginuity's headquarters since 1999.
"Enginuity can strengthen Dresser-Rand's engine technology position and worth proposition within the gas transmission market, and enhance Dresser-Rand's Applied Technology capabilities," same Volpe. "Together, Dresser-Rand and Enginuity expect to play a number one role within the development and readying of technology solutions to scale back dioxide emissions from mechanical device systems," he emphasised.
"Dresser-Rand represents a robust and well established whole," same Chad dramatist, founder and chief executive officer of Enginuity. "When combined with Dresser-Rand's extremely designed merchandise and international sales and repair capabilities, this whole provides the platform by that Enginuity will notice its vision of 'bringing energy and also the atmosphere into harmony.'"
Dresser-Rand is among the most important suppliers of rotating instrumentation solutions to the worldwide oil, gas, organic compound, and method industries. the corporate operates producing facilities within the u. s., France, U.K., Germany, Norway, India, and China, and maintains a network of thirty service and support centers covering over one hundred forty countries.
Source: PR Newswire
