GE Expands Energy Technology Portfolio With Acquisition Of Dresser Inc.
GE has signed a contract to acquire Dresser Inc., a global energy infrastructure technology and service provider. The US$3 billion (€2.2 billion) deal is the latest in a series of acquisitions over the last 10 years for GE, according to the company.
The addition of Dresser’s portfolio, which includes technologies for gas engines, control and relief valves, measurement, regulation and control products for gas and fuel distribution, will expand GE’s core energy offerings and extend its reach into adjacent offerings for its energy and industrial customers around the world. The deal is subject to customary closing conditions and is expected to close promptly after receiving regulatory approval.
Headquartered in Addison, Texas, U.S.A., Dresser operates in more than 100 countries, delivering compression, flow technology, measurement and distribution infrastructure and services to customers in more than 150 countries. Dresser had revenues of US$2 billion (€1.4 billion) and earnings of US$318 million (€229.1 billion) in 2009.
For more information: www.ge.com