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Siemens to buy US company Dresser-Rand in $7.6 bn deal

22 Sep 2014
Siemens is buying US company Dresser-Rand in a $7.6 billion deal which will help boost the company’s oil and gas business in North America.

Dresser-Rand, which makes oilfield equipment, will become “the platform for oil and gas equipment solutions within Siemens”, according to the deal.

The deal will give Siemens access to America’s oil industry, at a time when a drilling boom for oil in the US has led to higher demand for energy services and equipment.

Headquartered in Houston, the deal is expected to be completed by summer 2015.