Dresser-Rand to buy S. African firm

September 27, 2013 Updated Apr 29, 2010 at 7:21 AM EDT

By Business First of Buffalo - Houston Business Journal

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Dresser-Rand to buy S. African firm

September 27, 2013 Updated Apr 29, 2010 at 7:21 AM EDT

Dresser-Rand Group Inc. has agreed to buy South Africa's Turbo Machines Field Services Ltd. for an undisclosed amount.

Houston-based Dress-Rand (NYSE: DRC), which has multiple operations in New York state's Southern Tier, said the move is part of its strategy in expanding into key and underserved markets. It will bring the firm closer to major end users and access to "an extensive installed base of rotating equipment in sub-Saharan Africa," the firm said in a statement.

The deal is expected to close in early May.

Founded in 1997, TMFS is based in Centurion, near Johannesburg. The company supplies non-OEM replacement parts for steam turbine and centrifugal compressor products that manufacture components such as turbine blades, compressor impellers, bearings and seals.