DALLAS, April 9, 2002 (PRIMEZONE) -- Dresser, Inc. today announced that it has completed the purchase of the assets of Modern Supply Company, Inc., based in Ponca City, Oklahoma, for an undisclosed amount. Modern Supply is a distributor of Dresser's Grove(r) and Tom Wheatley(tm) product lines, and performs a variety of fabrication, repair, and maintenance services for customers in the oil and gas industry.
"Modern Supply is well known in the industry for providing superior services," stated Stuart Brightman, President of Dresser Flow Control. "We are pleased to add the capabilities and personnel of this fine organization to our business." Brightman added that this acquisition allows Dresser to provide a new level of service to its customers, particularly to those in the pipeline industry, and that the company will continue to operate under the Modern Supply name.
The purchase furthers Dresser's strategy of expanding its service offerings. Modern Supply's Ponca City and Conroe, Texas locations join four other new Dresser Flow Control service facilities that have either opened or have been acquired within the last three years. In addition, Modern Supply brings additional service and solution capabilities to the Dresser network, including custom valve packaging, actuation, fabrication and testing services.
Dresser Flow Control, a business unit of Dresser, Inc., is a worldwide leader in the design, manufacturing and supply of valves, pumps, actuators, meters, regulators, piping specialties, and control solutions for the exploration and production, transmission, and distribution sectors of the oil and natural gas industries. Dresser Flow Control's website can be accessed at flowcontrol.dresser.com.
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.
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