DALLAS, Oct. 9, 2001 (PRIMEZONE) -- Dresser, Inc. today announced an offer to exchange up to $300 million principal amount of its registered Series B 9 3/8% Senior Subordinated Notes (the exchange notes) due 2011 for its outstanding unregistered Series A 9-3/8% Senior Subordinated Notes (the old notes) due 2011. The exchange offer will expire at 5:00 p.m. EST on Monday, November 5, 2001, unless Dresser, in its sole discretion, decides to extend the exchange offer.
Dresser said in its Form S-4 Registration Statement that it entered into a registration rights agreement in April 2001 with the initial purchasers of the old notes to file a registration statement, under the Securities Act, providing for this exchange offer. The exchange notes will be issued without a restrictive legend and generally may be reoffered and resold without registration under the Securities Act.
The exchange agent for the exchange offer is State Street Bank and Trust Company, Corporate Trust Department, 5th floor, 2 Avenue de Lafayette, Boston, MA 02111. Information may also be obtained by calling (617) 662-1603.
Headquartered in Dallas, Texas, 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 power systems segments of the energy industry. Dresser has a widely distributed global presence, with over 8,500 employees and a sales presence in over 100 countries worldwide. The company's Website can be accessed at www.dresser.com.
Safe Harbor Statement
Certain statements made herein concerning anticipated future performance are forward-looking statements. These forward-looking statements are based on estimates, projections, beliefs and assumptions of management and are not guarantees of future performance. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of important factors. Representative examples of these factors include (without limitation) the cyclical nature of the industries served by the Company, which can be affected by factors outside the company's control; the general economy; the demand for the company's products and services and the amount of debt the company must service. This list of factors is not intended to be exhaustive. Additional information concerning relevant risk factors can be found in the company's Registration Statement on Form S-4, filed with Securities and Exchange Commission. All forward-looking statements made in this press release or on the conference call are expressly qualified by reference to the disclosure in that Registration Statement.