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 mixture of mainly hydrocarbons, and is found in geological formations. The name ''petroleum'' covers both naturally occurring unprocessed crud ...

and

natural gas Natural gas (also called fossil gas or simply gas) is a naturally occurring mixture of gaseous hydrocarbons consisting primarily of methane in addition to various smaller amounts of other higher alkanes. Low levels of trace gases like carbo ...

. 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 acces ...

Dresser Industries Dresser Industries was a multinational corporation headquartered in Dallas, Texas, United States, which provided a wide range of technology, products, and services used for developing energy and natural resources. In 1998, Dresser merged with its ...

and

Ingersoll Rand Ingersoll Rand is an American multinational company that provides flow creation and industrial products. The company was formed in February 2020 through the spinoff of the industrial segment of Ingersoll-Randplc (now known as Trane Technologies) ...

History

Ingersoll Rand

's roots date back to 1871 when

Simon Ingersoll Simon Ingersoll (March 3, 1818 – July 24, 1894) was an American inventor who created the steam-powered percussion rock drill, which replaced the hand drill and was a major advancement in the mining and construction industries. The drill vastly i ...

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 Painted Post is a village in Steuben County, New York. The village is in the town of Erwin, west of the city of Corning. The population was 1,809 at the 2010 census. The name comes from a Seneca carved post found by explorers at the junction ...

. The result was the Ingersoll Rand Company.

Dresser Industries

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

Bradford Bradford is a city and the administrative centre of the City of Bradford district in West Yorkshire, England. The city is in the Pennines' eastern foothills on the banks of the Bradford Beck. Bradford had a population of 349,561 at the 2011 ...

, 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 a substance containing water in the gas phase, and sometimes also an aerosol of liquid water droplets, or air. This may occur due to evaporation or due to boiling, where heat is applied until water reaches the enthalpy of vaporization ...

diesel Diesel may refer to: * Diesel engine, an internal combustion engine where ignition is caused by compression * Diesel fuel, a liquid fuel used in diesel engines * Diesel locomotive, a railway locomotive in which the prime mover is a diesel engin ...

, 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 Kongsberg Gruppen is an international technology group headquartered in Norway, that supplies high-technology systems to customers in the merchant marine, defence, aerospace, offshore oil and gas industries, and renewable and utilities industri ...

gas turbine A gas turbine, also called a combustion turbine, is a type of continuous flow internal combustion engine. The main parts common to all gas turbine engines form the power-producing part (known as the gas generator or core) and are, in the directi ...

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 First Reserve Corporation is a private equity firm specializing in leveraged buyouts and growth capital investments in the energy sector. First Reserve was founded in 1984 and is the oldest and largest private equity fund dedicated to investments ...

, 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 state in the Mid-Atlantic region of the United States, bordering Maryland to its south and west; Pennsylvania to its north; and New Jersey and the Atlantic Ocean to its east. The state takes its name from the adjacent Del ...

, and the acquisition closed on October 29, 2004. On August 4, 2005, First Reserve took Dresser-Rand Group, Inc. public through an

IPO An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

, 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 conglomerate corporation and the largest industrial manufacturing company in Europe headquartered in Munich with branch offices abroad. The principal divisions of the corporation are ''Industry'', '' ...

announced plans to acquire Dresser-Rand Group Inc for $7.6 billion in cash. The deal was completed on June 30, 2015.

Operations

Dresser-Rand products include turbo and

reciprocating compressor A reciprocating compressor or piston compressor is a positive-displacement compressor that uses pistons driven by a crankshaft to deliver gases at high pressure. Pressures of up to 5,000 PSIG are commonly produced by multistage reciprocating ...

steam turbines A steam turbine is a machine that extracts thermal energy from pressurized steam and uses it to do mechanical work on a rotating output shaft. Its modern manifestation was invented by Charles Parsons in 1884. Fabrication of a modern steam turbin ...

, industrial and aero-derivative

gas turbines A gas turbine, also called a combustion turbine, is a type of continuous flow internal combustion engine. The main parts common to all gas turbine engines form the power-producing part (known as the gas generator or core) and are, in the directi ...

, 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 ...

, and modular power substations. The company is headquartered in

Houston Houston (; ) is the most populous city in Texas, the most populous city in the Southern United States, the fourth-most populous city in the United States, and the sixth-most populous city in North America, with a population of 2,304,580 in ...

Texas Texas (, ; Spanish language, Spanish: ''Texas'', ''Tejas'') is a state in the South Central United States, South Central region of the United States. At 268,596 square miles (695,662 km2), and with more than 29.1 million residents in 2 ...

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

India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...

Russia Russia (, , ), or the Russian Federation, is a List of transcontinental countries, transcontinental country spanning Eastern Europe and North Asia, Northern Asia. It is the List of countries and dependencies by area, largest country in the ...

Poland Poland, officially the Republic of Poland, is a country in Central Europe. It is divided into 16 administrative provinces called voivodeships, covering an area of . Poland has a population of over 38 million and is the fifth-most populous ...

Saudi Arabia Saudi Arabia, officially the Kingdom of Saudi Arabia (KSA), is a country in Western Asia. It covers the bulk of the Arabian Peninsula, and has a land area of about , making it the fifth-largest country in Asia, the second-largest in the A ...

China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and ...

, and the

Netherlands ) , anthem = ( en, "William of Nassau") , image_map = , map_caption = , subdivision_type = Sovereign state , subdivision_name = Kingdom of the Netherlands , established_title = Before independence , established_date = Spanish Netherl ...

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