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Dresser-Rand Announces Agreement with Tuthill Corporation

Posted on July 6, 2005

Dresser-Rand Company announced that a wholly owned subsidiary of the company has entered into an agreement with Tuthill Corporation of Burr Ridge, Illinois, U.S.A. to acquire certain assets of its Tuthill Energy Systems division (TES). TES is an international manufacturer of single- and multi-stage steam turbines and portable ventilators used throughout the energy industry.

TES, which has operations in Burlington, Iowa, U.S.A.; Millbury, Massachusetts, U.S.A. and Bielefeld, Germany, traces its beginnings to 1870. TES manufactures under the Coppus, Murray, and Nadrowski brands. Across the three product brands, the TES power offerings range up to 20 MW for both power generation and mechanical drive applications.

The agreement is subject to review and approval by the appropriate government regulatory agencies. If approved, the transaction is expected to be closed later this year. Terms of the agreement were not disclosed.

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