Continued Strong Business Allows Dresser, Inc. to Make Voluntary Debt Prepayment.DALLAS -- Dresser, Inc. today announced it has made an optional prepayment of $20 million on its new $785 million term loan, reducing the total amount outstanding under the facility to $765 million. On Oct. 31, 2006, Dresser refinanced its U.S. debt with the $785 million term loan and a $150 million revolving credit Revolving Credit A line of credit where the customer pays a commitment fee and is then allowed to use the funds when they are needed. It is usually used for operating purposes, fluctuating each month depending on the customers current cash flow needs. facility. Prior to the refinancing, the company had made optional prepayments totaling $75 million during 2006 on its then-existing term loan. The company noted that its operations continue to generate significant positive cash flow and its backlog and bookings remain strong. About Dresser, Inc. Dresser, Inc. is a worldwide leader in the design, manufacture and marketing of highly engineered equipment and services sold primarily to customers in the flow control, measurement systems, and compression and power systems segments of the energy industry. Headquartered in Dallas, Texas “Dallas” redirects here. For other uses, see Dallas (disambiguation). The City of Dallas (pronounced [ˈdæl.əs] or [ˈdæl. , Dresser has a comprehensive global presence, with approximately 6,000 employees and a sales presence in more than 100 countries worldwide. The company's website is www.dresser.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement This document contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, including without limitation, the company's expectations regarding the continuation of positive cash flow and strong backlog and bookings. Actual results may differ from the expectations described in these forward-looking statements, which are subject to factors that are not in every case under the company's control. In addition, see the "Risk Factors" disclosure in the company's Quarterly Report on Form 10-Q Form 10-Q See 10-Q. for the period ended Sept. 30, 2005. Because the information herein is based solely on data currently available at this time, it is subject to change as a result of situations over which the company may have no control or influence and should not therefore be viewed as an assurance regarding such information. Additionally, the company is not obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. to make public disclosure of such changes unless required to do so under applicable rules and regulations. |
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