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Dresser-Rand Announces Agreement with Tuthill Corporation

Dresser-Rand Company announced today that has entered into an agreement with Tuthill Corporation 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 that are widely used throughout the energy industry.

TES, 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 28,000 hp for both power generation and mechanical drive applications.

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

Dresser-Rand is among the largest global suppliers of rotating equipment solutions to the worldwide oil, gas, petrochemical, and process industries. The company operates manufacturing facilities in the United States, France, Germany, Norway, India, and Brazil, and maintains a network of 24 service and support centers covering 105 countries.

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Date: 30.06.2005
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