Printer Friendly

DRESSER INDUSTRIES FINALIZES ACQUISITION OF AVA INTERNATIONAL

 DRESSER INDUSTRIES FINALIZES ACQUISITION OF AVA INTERNATIONAL
 DALLAS, June 5 /PRNewswire/ -- Dresser Industries, Inc. (NYSE: DI) announced today that it has finalized the acquisition of AVA International Corp., Houston.
 Terms of the agreement were not disclosed.
 AVA International's operations will be merged with Dresser's Guiberson operations, and the combined organization will operate with the new name of Guiberson AVA.
 John J. Murphy, chairman and chief executive officer of Dresser, said, "The merger of AVA International and Guiberson offers a unique opportunity since there is essentially no overlap within the combined product lines or duplication of field operating facilities. The joint operations will allow Guiberson AVA to be a single-source supplier for well completion products and services worldwide and provide added value to oil and gas producers."
 "Equally important," according to Murphy, "is the fact that AVA has a strong international presence but minimal domestic business. Guiberson business historically has been just the reverse. This gives Guiberson products an important international foothold and at the same time provides a vital domestic market for AVA's product line.
 "All Guiberson and AVA plants, facilities and people will remain in place," Murphy said.
 Headquartered in Dallas, Dresser is a major supplier of highly engineered products and services primarily utilized in hydrocarbon energy-related activities throughout the world. Dresser had total sales of more than $6 billion in 1992 from consolidated operations and its share of unconsolidated joint ventures.
 -0- 6/5/92
 /CONTACT: Kenneth C. Rueckert of Dresser Industries, 214-740-6757/
 (DI) CO: Dresser Industries Inc. ST: Texas IN: OIL SU: TNM


TS -- NY040 -- 7475 06/05/92 13:00 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 5, 1992
Words:265
Previous Article:ROYAL CARIBBEAN EXTENDS SPONSORSHIP OF SENIOR PGA TOUR EVENT -- ROYAL CARIBBEAN CLASSIC
Next Article:TODAY'S MAN, INC. RELEASES ANNOUNCEMENT REGARDING REGISTRATION STATEMENT FOR SALE OF 2 MILLION SHARES OF COMMON STOCK
Topics:


Related Articles
SHAREHOLDERS OF DRESSER INDUSTRIES ELECT BOARD OF DIRECTORS; APPROVE STOCK COMPENSATION PLAN
DRESSER INDUSTRIES ANNOUNCES INTENT TO PURCHASE AVA INTERNATIONAL
DRESSER AND BAROID FILE JOINT PROXY STATEMENT
DRESSER TO ACQUIRE GROVE S.P.A.
DRESSER ANNOUNCES NEW M.W. KELLOGG BUSINESS UNIT TO EXPAND MARKET OPPORTUNITIES UPSTREAM AND DOWNSTREAM
DRESSER INDUSTRIES ANNOUNCES ANNUAL SHAREHOLDER MEETING NOTES
M.W. Kellogg Contracted By Shell For Wood River Refinery Project
Dresser's Wellstream Unit Supplies Risers for Morpeth Development
Dresser-Rand to Obtain Supersonic Ejector Technology from TransCanada Corporation.
Dresser-Rand Announces Renewed Supplier Agreement with Chevron.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters