Printer Friendly

DRESSER INDUSTRIES, INC. ANNOUNCES AGREEMENT IN PRINCIPLE TO ACQUIRE BREDERO PRICE HOLDING B.V.

 DALLAS, Feb. 1 /PRNewswire/ -- Dresser Industries, Inc. (NYSE: DI) today announced that it has reached an agreement in principle to acquire the worldwide pipe coating business of Bredero Price Holding B.V. from the Royal Begemann Group of The Netherlands. A Dresser representative stated that the purchase price will be approximately $160 million.
 Bredero Price is a multinational company and serves markets for both onshore and offshore pipe coating.
 Bredero Price's annual sales volume approximates $160 million. The company is headquartered in The Netherlands and has facilities in England, Scotland, Malaysia, Nigeria, Indonesia, Norway and the Middle East among others.
 John J. Murphy, chairman of Dresser, stated that, "The acquisition of Bredero Price, with its substantial market share and excellent earnings, will strengthen our Oilfield Services Segment. This acquisition continues Dresser's focus on the hydrocarbon energy sector, and we are pleased that Bredero Price's technology and service capabilities will allow Dresser's expansion into this additional market segment."
 Headquartered in Dallas, Dresser Industries, Inc. is a major supplier of highly engineered products and services primarily utilized in energy-related activities throughout the world.
 -0- 2/1/93
 /CONTACT: Kenneth C. Rueckert for Dresser Industries, Inc., 214-740-6757/
 (DI)


CO: Dresser Industries, Inc. ST: Texas IN: OIL SU: TNM

LR -- NY060 -- 1339 02/01/93 11:43 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 1, 1993
Words:214
Previous Article:ESCO ELECTRONICS CORPORATION REPORTS INCREASE IN SALES AND EARNINGS FOR FISCAL 1993 FIRST QUARTER
Next Article:KEY ENERGY GROUP ANNOUNCES RESULTS
Topics:


Related Articles
DRESSER INDUSTRIES, INC. ACQUIRES BREDERO PRICE HOLDING B.V.
NEWS FROM DRESSER INDUSTRIES, INC. ANNUAL MEETING OF SHAREHOLDERS
DRESSER INDUSTRIES, INC. ANNOUNCES THE SALE OF $300 MILLION OF NOTES
LUKENS SELLS ENCOAT TO DRESSER INDUSTRIES; SALE COMPLETES LUKENS' DIVESTITURE PROGRAM
BREDERO PRICE COMPANY ACQUIRES PIPE LINE COATING
DRESSER INDUSTRIES AND SHAW INDUSTRIES AGREE TO STRATEGIC ALLIANCE OF OPERATING UNITS
DRESSER INDUSTRIES AND SHAW INDUSTRIES FORM PIPECOATING STRATEGIC ALLIANCE
Dresser Industries and Shaw Industries Extend Pipecoating Strategic Alliance
Two leaders discuss challenges and opportunities in pipe coating industry: Lee Evans of Bredero Shaw, Houston, and Bill Rising of DuPont Pipeline...
Dresser strengthens natural gas metering offerings acquiring iMeter B.V.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters