Dresser-Rand To Buy S. Africa Parts and Repair Co.

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.

 

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