HOUSTON, June 29, 2015 /PRNewswire/ -- Dresser-Rand
Group Inc. ("Dresser-Rand" or the "Company") (NYSE: DRC), a global
supplier of rotating equipment and aftermarket parts and services,
has been notified that the European Commission cleared the
Company's proposed merger with Siemens. All of the conditions
precedent regarding regulatory matters have now been satisfied. The
closing of the transaction is scheduled to occur on June 30, 2015.
About Dresser-Rand
Dresser-Rand is among the largest suppliers of rotating
equipment solutions to the worldwide oil, gas, petrochemical, and
process industries. The Company operates manufacturing
facilities in the United States,
France, United Kingdom, Spain, Germany, Norway, India, and Brazil, and maintains a network of 49 service
and support centers (including 7 engineering and R&D centers)
covering more than 150 countries.
Forward Looking Statements
Any statements in this communication about the Company's
expectations, beliefs, plans, objectives, prospects, financial
condition, assumptions or future events or performance, including
statements regarding the Company's proposed merger with Siemens,
the expected timetable for completing the transaction, benefits and
synergies of the transaction and future opportunities for the
combined company that are not historical facts are forward-looking
statements. The Company intends such forward-looking
statements to be covered by the safe harbor provisions for
forward-looking statements contained in Section 21E of the
Securities Exchange Act of 1934, as amended, and the Private
Securities Reform Act of 1995. In some cases, forward-looking
statements can be identified by the following words: "may," "will,"
"could," "would," "should," "expect," "intend," "plan,"
"anticipate," "believe," "estimate," "predict," "project,"
"potential," "continue," "ongoing," "outlook," "guidance" and
similar expressions, although not all forward-looking statements
contain these words. The forward-looking information and
statements are or may be based on a series of projections and
estimates and involve risks and uncertainties. These risks
and uncertainties include such factors as: (1) the occurrence of
any event, change or other circumstances that could give rise to
the termination of the merger agreement, (2) the failure to satisfy
any of the closing conditions contained in the merger agreement,
(3) risks related to disruption of management's attention from the
Company's ongoing business operations due to the proposed
transaction and (4) the effect of the announcement of the
transaction on the ability of the Company to retain and hire key
personnel and maintain relationships with its customers, suppliers
and others with whom it does business, or on its operating results
and business generally. Additional risks are described under
Item 1A, "Risk Factors," in the Company's periodic filings with the
SEC, including the Company's annual report on Form 10-K for the
year ended December 31, 2014 and
subsequently filed quarterly reports on Form 10-Q. Because
the factors referred to above could cause actual results or
outcomes to differ materially from those expressed or implied in
any forward-looking statements made by the Company, you should not
place undue reliance on any such forward-looking statements.
Further, any forward-looking statement speaks only as of the date
of this communication, and the Company undertakes no obligation to
update any forward-looking statement to reflect events or
circumstances after such date.
DRC-FIN
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SOURCE Dresser-Rand Group Inc.