Dresser-Rand is an American engineering and manufacturing company owned by Siemens Energy. The company designs, manufactures, and services equipment used in the extraction of

petroleum Petroleum, also known as crude oil or simply oil, is a naturally occurring, yellowish-black liquid chemical mixture found in geological formations, consisting mainly of hydrocarbons. The term ''petroleum'' refers both to naturally occurring un ...

and

natural gas Natural gas (also fossil gas, methane gas, and gas) is a naturally occurring compound of gaseous hydrocarbons, primarily methane (95%), small amounts of higher alkanes, and traces of carbon dioxide and nitrogen, hydrogen sulfide and helium ...

. The company was formed in 1986 as a

joint venture A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acce ...

of Dresser Industries and Ingersoll Rand.

History

Ingersoll Rand

Ingersoll Rand's roots date back to 1871 when Simon Ingersoll formed the Ingersoll Rock Drill Company after patenting a steam-powered rock drill design. The company merged with the Sergeant Drill Company in 1888 and became the Ingersoll-Sergeant Drill Company. In 1905, the company merged with Rand Drill Company, which six years prior had begun manufacturing compressors in Painted Post, New York. The result was the Ingersoll Rand Company. In 2000, Flowserve purchased Ingersoll-Dresser Pumps, a business unit of Ingersoll-Rand, for $775 million, creating the world’s second largest pump company.

Dresser Industries

Dresser Industries was created from the 1938 merger of the Solomon R. Dresser Company (founded in

Bradford Bradford is a city status in the United Kingdom, city in West Yorkshire, England. It became a municipal borough in 1847, received a city charter in 1897 and, since the Local Government Act 1972, 1974 reform, the city status in the United Kingdo ...

, Pennsylvania) and the Clark Brothers Company (founded in 1880 in Belmont, New York; moved to Olean, New York in 1912). The Dresser Clark Company, which was incorporated in 1956 as Dresser Industries, manufactured

steam Steam is water vapor, often mixed with air or an aerosol of liquid water droplets. This may occur due to evaporation or due to boiling, where heat is applied until water reaches the enthalpy of vaporization. Saturated or superheated steam is inv ...

, diesel, and reciprocating engines as well as centrifugal compressors in Olean, and in a facility in Le Havre, France. In 1984, Dresser Industries acquired Turbodyne Corporation from the McGraw-Edison Company, which had previously purchased the Studebaker-Worthington Company in 1979. In 1985, Dresser Industries acquired a 50% share of the Kongsberg Våpenfabrikk

gas turbine A gas turbine or gas turbine engine is a type of Internal combustion engine#Continuous combustion, continuous flow internal combustion engine. The main parts common to all gas turbine engines form the power-producing part (known as the gas gene ...

division, the producer of the KG2, the world's first radial gas turbine. The remaining 50% share of Kongsberg's gas turbine division was purchased by Dresser-Rand in 1989.

Dresser-Rand

Dresser-Rand Company was formed in 1986 as an equally-owned

between Dresser Industries and Ingersoll Rand. In September 1999, Dresser Industries merged with Halliburton Industries, and transferred its 51% ownership interest of Dresser-Rand Company to Halliburton. Due to agreements made in the original venture, Dresser Industries, then a unit of Halliburton, was required to either purchase the remaining interest in Dresser-Rand Company or sell it to Ingersoll Rand. In February 2000, the 51% ownership of Dresser-Rand Company was sold to Ingersoll Rand. On August 25, 2004, First Reserve Corporation, a private equity firm, entered into an equity purchase agreement with Ingersoll Rand to purchase the equity interests in Dresser-Rand Company for approximately $1.2 billion. Following the purchase agreement, Dresser-Rand Group, Inc. was registered as corporation in the state of

Delaware Delaware ( ) is a U.S. state, state in the Mid-Atlantic (United States), Mid-Atlantic and South Atlantic states, South Atlantic regions of the United States. It borders Maryland to its south and west, Pennsylvania to its north, New Jersey ...

, and the acquisition closed on October 29, 2004. On August 4, 2005, First Reserve took Dresser-Rand Group, Inc. public through an IPO, selling at $21.00 per share. In 2012, the company acquired Spanish engine supplier Grupo Guascor SL for $690 million, as well as Synchrony, Inc. In September 2014,

Siemens Siemens AG ( ) is a German multinational technology conglomerate. It is focused on industrial automation, building automation, rail transport and health technology. Siemens is the largest engineering company in Europe, and holds the positi ...

announced plans to acquire Dresser-Rand Group Inc for $7.6 billion in cash. The deal was completed on June 30, 2015. In 2018, the Dresser-Rand Government Business unit of Siemens Government Technologies was sold to Curtiss-Wright Corporation for $212.5 million in cash. At the time of acquisition, Dresser-Rand was an exclusive supplier of steam turbines and main engine guard valves across all aircraft carrier programs. The company was also a major provider of repair and maintenance services for the U.S. Navy’s Atlantic and Pacific fleets.

Operations

Dresser-Rand products include turbo and reciprocating compressors,

steam turbines A steam turbine or steam turbine engine is a machine or heat engine that extracts thermal energy from pressurized steam and uses it to do mechanical work utilising a rotating output shaft. Its modern manifestation was invented by Sir Charles Par ...

, industrial and aero-derivative gas turbines, high-speed

engines An engine or motor is a machine designed to convert one or more forms of energy into mechanical energy. Available energy sources include potential energy (e.g. energy of the Earth's gravitational field as exploited in hydroelectric power gen ...

, and modular power substations. The company is headquartered in

Houston Houston ( ) is the List of cities in Texas by population, most populous city in the U.S. state of Texas and in the Southern United States. Located in Southeast Texas near Galveston Bay and the Gulf of Mexico, it is the county seat, seat of ...

Texas Texas ( , ; or ) is the most populous U.S. state, state in the South Central United States, South Central region of the United States. It borders Louisiana to the east, Arkansas to the northeast, Oklahoma to the north, New Mexico to the we ...

and has a presence in over 150 countries, including the United States, France, Spain, Germany, Norway, Brazil,

India India, officially the Republic of India, is a country in South Asia. It is the List of countries and dependencies by area, seventh-largest country by area; the List of countries by population (United Nations), most populous country since ...

Russia Russia, or the Russian Federation, is a country spanning Eastern Europe and North Asia. It is the list of countries and dependencies by area, largest country in the world, and extends across Time in Russia, eleven time zones, sharing Borders ...

Poland Poland, officially the Republic of Poland, is a country in Central Europe. It extends from the Baltic Sea in the north to the Sudetes and Carpathian Mountains in the south, bordered by Lithuania and Russia to the northeast, Belarus and Ukrai ...

Saudi Arabia Saudi Arabia, officially the Kingdom of Saudi Arabia (KSA), is a country in West Asia. Located in the centre of the Middle East, it covers the bulk of the Arabian Peninsula and has a land area of about , making it the List of Asian countries ...

China China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after ...

, and the

Netherlands , Terminology of the Low Countries, informally Holland, is a country in Northwestern Europe, with Caribbean Netherlands, overseas territories in the Caribbean. It is the largest of the four constituent countries of the Kingdom of the Nether ...

References

External links

*{{official website, https://www.dresser-rand.com Engineering companies of the United States Manufacturing companies based in Houston 2015 mergers and acquisitions Companies formerly listed on the New York Stock Exchange 2004 mergers and acquisitions 2005 initial public offerings American subsidiaries of foreign companies Steam turbine manufacturers Ingersoll Rand Siemens Engine manufacturers of the United States