Dresser, based in Addison, Texas, has 6,300 employees worldwide and delivers compression, [image-nocss] flow technology, measurement and distribution infrastructure and services to customers in more than 150 countries. The Dresser businesses will be integrated into GE's Energy Services and Power & Water business units.
"GE and Dresser are a natural fit together. We share a commitment to technology and innovation and we have many common customers in the energy space," said John Krenicki, vice chairman of GE and president and CEO of GE Energy. "We are building an integration strategy that will capitalize on both companies' existing expertise and strengths. We highly value the new employees who have just joined GE. Their skills and experience were key factors in our decision to acquire this business."
Dresser has a global franchise with 60% of its revenues outside of North America. The company is a leader in providing highly engineered infrastructure products and services for the energy industry. Its portfolio includes valves, actuators, meters, switches, regulators, piping products, natural gas-fueled engines for compression, retail fuel dispensers and associated retail point-of-sale (POS) systems and air and gas handling equipment.
GE is a diversified infrastructure, finance and media company taking on the world's toughest challenges. From aircraft engines and power generation to financial services, health care solutions and television programming, GE operates in more than 100 countries and employs about 300,000 people worldwide. GE serves the energy sector by developing and deploying technology that helps make efficient use of natural resources. With nearly 85,000 global employees and 2010 revenues of $38 billion, GE Energy is one of the world's leading suppliers of power generation and energy delivery technologies. The businesses that comprise GE Energy--GE Power & Water, GE Energy Services and GE Oil & Gas--work together to provide integrated product and service solutions in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; and other alternative fuels.
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