HOUSTON (AP) -- Dresser-Rand Group Inc., which makes equipment for the oil industry, said Tuesday it has agreed to buy Turbo Machines Field Services Ltd., a South Africa-based company that supplies parts and repairs machinery.
The deal's price was not disclosed.
Turbo Machines Field Services is based in Centurion, which is near Johannesburg. It has a service and repair facility, and is a supplier of replacement parts for steam turbine and centrifugal compressor products.
Dresser-Rand said in a statement that the acquisition will help it expand in an underserved market and give the company a local presence.
The acquisition isn't expected to affect earnings in the first year. It will increase earnings in subsequent years, Dresser-Rand said.
