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DRESSER INDUSTRIES NAMES NEW COMPANY SPIN-OFF

 DRESSER INDUSTRIES NAMES NEW COMPANY SPIN-OFF
 DALLAS, March 9 /PRNewswire/ -- Dresser Industries, Inc. (NYSE: DI)


announced today that the new company to be formed from the previously announced spin-off to shareholders of its industrial operations will be named INDRESCO Inc. and based in Dallas.
 Ralph W. Ytterberg, currently chairman and chief executive officer of Komatsu Dresser, a construction equipment joint venture owned 50/50 by Dresser and Komatsu Ltd., will be chairman of the board and chief executive officer of INDRESCO, and Yazan N. Sharif, currently president of Harbison-Walker Refractories, a Dresser division, will be president and chief operating officer of the new company.
 Prior to joining Komatsu Dresser in September 1988, Ytterberg, 64, was senior vice president-operations of Dresser and responsible for seven operating divisions. Other Dresser capacities in which he has served include senior vice president-human resources, vice president- industrial relations and managing director of Dresser Europe. His Dresser career began at the Dresser Clark Division, Olean, N.Y., in 1958.
 Ytterberg also has held management positions during his business career with Corning Glass Works, Singer Company and North American Rockwell Corporation where he was president of the Textile Machine Group.
 Ytterberg has a B.A. degree in economics from Albion College in Michigan.
 Sharif, 48, became president of Harbison-Walker in 1986 and has been with Dresser since 1973. He has Bachelor and Master of Science degrees in mechanical engineering from Massachusetts Institute of Technology, an MBA from Southern Methodist University and in 1980 was awarded Dresser's Gold Medal for Technical Creativity, the company's highest recognition for engineering achievement.
 Before assuming his current post at Harbison-Walker, Sharif served in such positions as Vice President-General Manager of Dresser's former General Abrasive Division and Manager-New Product Diversification on the Dresser corporate staff in Dallas. Early in his Dresser career, Sharif was at the Dresser Clark Division in engineering supervisory and marketing capacities.
 Sharif came to Dresser in 1973 from Northern Research and Engineering Corp. in Cambridge, Massachusetts where he was involved in engineering and project management activities.
 The operations that will become INDRESCO had combined 1991 pro forma sales of $1.1 billion, including Dresser's 50 percent interest in Komatsu Dresser. These operations include Dresser's share of Komatsu Dresser, Harbison-Walker, the Marion Division (a manufacturer of surface mining equipment), the Jeffrey Division (a producer of underground mining equipment), the Industrial Tool Division, Standard Compressors Europe, Jeffrey Brazil and Dresser's 50 percent share of Komdresco (a mining and construction equipment joint venture).
 -0- 3/9/92
 /CONTACT: Kenneth C. Rueckert of Dresser Industries, 214-740-6000/
 (DI) CO: Dresser Industries, Inc.; INDRESCO Inc. ST: Texas IN: OIL SU:


KD -- NY085 -- 6638 03/09/92 18:33 EST
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Publication:PR Newswire
Date:Mar 9, 1992
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