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July 02, 2015 6:00 PM ET

Energy Equipment and Services

Company Overview of Dresser-Rand Group Inc.

Company Overview

Dresser-Rand Group Inc., together with its subsidiaries, designs, manufactures, sells, and services rotating equipment solutions to the oil, gas, chemical, petrochemical, process, power generation, military, and other industries worldwide. It operates in two segments: New Units, and Aftermarket Parts and Services. The New Units segment provides engineering, manufacturing, project management, packaging, testing, sales, and administrative support services for centrifugal and reciprocating compression equipment and steam turbines; power turbines; special-purpose gas turbines; power recovery expanders; diesel, gas, and dual fuel engines; trip, trip throttle, and non-return valves; and magnetic b...

West 8 Tower

Suite 1000

10205 Westheimer Road

Houston, TX 77042

United States

Founded in 2004

7,900 Employees

Phone:

713-354-6100

Fax:

713-354-6110

Key Executives for Dresser-Rand Group Inc.

Chief Executive Officer and President
Age: 57
Total Annual Compensation: $940.0K
Executive Vice President of Global Operations
Age: 50
Total Annual Compensation: $425.1K
Vice President, General Counsel and Secretary
Age: 54
Total Annual Compensation: $435.5K
Executive Vice President of Global Solutions
Age: 51
Total Annual Compensation: $383.6K
Compensation as of Fiscal Year 2014.

Dresser-Rand Group Inc. Key Developments

Dresser-Rand Group Inc. Announces Management Changes; Announces Changes in Certificate of Incorporation and the Bylaws

Dresser-Rand Group Inc. announced that in accordance with the merger agreement with Siemens Energy Inc. (Parent), and Dynamo Acquisition Corporation, as of the effective time, each of Rita V. Foley, William E. Macaulay, Louis A. Raspino, Philip R. Roth, Stephen A. Snider, Michael L. Underwood, Vincent R. Volpe Jr. and Joseph C. Winkler III (the former directors) ceased serving as members of the board of directors of the company and, in connection therewith, the former directors also ceased serving on any committees of which such former directors were members. Pursuant to the merger agreement, Randy Zwirn, Steven Conner and Heribert Stumpf now constitute the board of directors of the company. Vincent R. Volpe Jr., the company's president and chief executive officer (principal executive officer), advised on June 29, 2015 that he will cease his employment with the company following a transition period after the merger. On June 30, 2015, in connection with the merger, the company's board of directors appointed Heribert Stumpf as chief financial officer, effective immediately, replacing Jan Kees van Gaalen in that role. Heribert Stumpf, has been with Siemens since 1982. Prior to joining the Dresser-Rand Integration project, Mr. Stumpf served as the Chief Financial Officer for the global Siemens Building Technologies Division (2008-2014). At the effective time, the certificate of incorporation of merger sub became the certificate of incorporation of the company and the Bylaws of merger sub became the Bylaws of the company, each in accordance with the terms of the merger agreement.

Dresser-Rand Group, Inc. Launches New Gimpel Electro Hydraulic Trip Throttle Valve

Dresser-Rand Group Inc. has launched its new Gimpel electro hydraulic trip throttle valve, or EHTTV. Designed to prevent the catastrophic failure of steam turbines, the EHTTV stops the flow of steam to the turbine in less than 0.3 seconds, a closing force that is 4-10 times faster than typical latch-type valves. Additionally, the back seated stem design prevents steam loss when the valve is in the fully open position. EHTTVs operate independently of the installed turbine oil system and only require electrical power to operate. They can be locally or remotely actuated and exercised. The EHTTV maintains a five-year overhaul cycle with no lubricating requirement and comply with API-612 standards. They can also be used to improve efficiency and ultimately the bottom line by saving up to 100-250 lbs. of steam per hour. The valve underwent extensive testing this month at Dresser-Rand's facility in Burlington, Iowa and performed as expected under designed conditions. EHTTVs were developed for steam turbines in a wide range of industries, including power, ethylene, ammonia, pulp and paper, petrochemical, steel, medical, education, and refinery.

Dresser-Rand Group Inc. Presents at Credit Suisse 23rd Annual Offshore Technology Conference Tour, May-04-2015 06:00 PM

Dresser-Rand Group Inc. Presents at Credit Suisse 23rd Annual Offshore Technology Conference Tour, May-04-2015 06:00 PM. Venue: The Four Seasons Houston, 1300 Lamar Street, Houston, TX 77010, United States. Speakers: Joseph C. Winkler, Director, Member of Compensation Committee and Member of Nominating & Governance Committee, Louis A. Raspino, Independent Director, Chairman of Compensation Committee and Member of Audit Committee.

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