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Diversified Machinery
Dresser-Rand Group Inc. was a multinational provider of technology-based energy solutions with emphasis on oilfield services, oilfield and industrial rotating equipment, and complementary services. The company was formed in 2012 through the merger of Gardner Denver's Energy Group and Dresser, Inc.'s wholly owned subsidiary, Randall Drilling Technologies.
Now, I will provide you with some general information about Dresser-Rand Group Inc., including earnings, growth, and other relevant data points up to the time it was acquired:
Earnings and Revenue:
- For the fiscal year 2013 (before the acquisition by Siemens AG), the company reported revenue of $3.32 billion, with a net income of $115 million.
- The earnings per share (EPS) for 2013 were $0.55, which showed a decline from the previous year EPS of $0.93 in 2012.
- However, the revenue increased from $2.99 billion in 2012, reflecting a positive growth trend for the company.
- Over the years, Dresser-Rand demonstrated a mixed performance in terms of earnings and revenue, with fluctuations in the energy industry affecting its profitability.
Growth:
- Dresser-Rand's growth was driven by its diverse product offerings, including turbines, compressors, and pumping solutions, making it a key player in the energy technology sector.
- Throughout its history, the company targeted growth through expanding its product portfolio, establishing strategic partnerships, and increasing its global footprint in the oil and gas industry.
Mergers, Acquisitions, and Significant Events:
- In October 2014, Siemens AG, a global technology powerhouse and a leading industrial manufacturing company, announced its intention to acquire Dresser-Rand in a deal valued at approximately $7.6 billion.
- The acquisition was completed in June 2015, integrating Dresser-Rand as a separate entity within Siemens' Power and Gas Division.
As a result of the acquisition by Siemens, Dresser-Rand Group Inc. ceased to exist as a publicly traded company. The company's stock symbol, DRC, was delisted from the USA stock exchange.