Santa Barbara d'Oeste Celebrates Arrival of Newest Member of Business Community
Dresser-Rand's New Facility Will Support Brazil Pre-salt Field Development, Gas Turbine Repair and Engine/ Generator Packaging
Expected to Generate Approximately 150 Local Jobs
HOUSTON, June 20, 2012 /PRNewswire/ -- Members of Dresser-Rand's leadership team joined local officials and Petrobras executives at a ceremony today to celebrate the construction of a new facility in the city of Santa Barbara d'Oeste. Dresser-Rand, a global supplier of rotating equipment and aftermarket parts and services, has commenced construction of a new $25 million assembly facility. The facility is expected to start operations in late 2012. Dresser-Rand expects to employ and train local labor generating approximately 150 jobs.
"We are delighted to be a new member of the Santa Barbara d'Oeste community," said Jerry Walker, Dresser-Rand's Vice President and General Manager, Americas and Asia Pacific. "Our business success is supported by the strength of our relationships with the communities where we operate. We are focused on creating long-term sustainable benefits through job creation, supplier engagement, research and development activities, and educational support."
"Today the city of Santa Barbara d'Oeste celebrated the arrival of Dresser-Rand to our great community," said Mario Heins, Mayor of Santa Barbara d'Oeste. "Dresser-Rand exhibits values we embrace including economic and social development for the community and a commitment to environmental stewardship, job creation and community involvement. We are especially pleased that that they are planning to build one of the first LEED manufacturing facilities in the State. By using less energy and water, a LEED certified building saves money for families, businesses and taxpayers; reduces greenhouse gas emissions; and contributes to a healthier environment for residents, workers and the larger community."
At this new facility, Dresser-Rand will assemble mission-critical compressor modules for use in the production of oil and gas in the extensive pre-salt fields off the coast of Brazil. Additionally, Dresser-Rand will repair industrial gas turbines and will also package engines / generators and cogeneration systems for the oil & gas, industrial and marine sectors.
In October 2011, Dresser-Rand was awarded compression equipment and services valued at more than $700 million by TUPI B.V. (Petrobras 65% and operator, BG Group 25%, Petrogal Brasil S.A - Galp Energia 10%) and GUARA B.V. (Petrobras 45% and operator, BG Group 30% and Repsol-Sinopec 25%). The equipment, which includes up to 80 DATUM compressor trains, will be installed on eight (8) "replicant" floating, production, storage and offloading (FPSO) vessels. Six of these vessels will be located in the Lula field and two in the Guara field. Training, aftermarket services and two 10-year maintenance contracts were also included as part of the award.
Located in Santa Barbara d'Oeste in Sao Paulo State, Brazil, the facility is being built on a property comprising an area of 42,000 m², in the Cillo Industrial Park near highway SP-304 (Highway Luiz de Queiroz) and Bandeirantes Highway (SP-348). The facility will be approximately 10,000 m² and will include packaging, repair and test capabilities for compressors, generator sets and gas turbine repair.
Dresser-Rand Group Inc. ("Dresser-Rand" or, collectively with its affiliates, the "Company") (NYSE: DRC), 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, and India, and maintains a network of 49 service and support centers (including 6 engineering and R&D centers) covering more than 150 countries. Dresser-Rand has principal offices in Paris, France, and Houston, Texas.
This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, the Company's plans, objectives, goals, strategies, future events, future revenue, or performance, capital expenditures, financing needs, plans, or intentions relating to acquisitions, business trends, executive compensation, and other information that is not historical information. The words "anticipates," "believes," "expects," "intends," "appears," "outlook," and similar expressions identify such forward-looking statements. Although the Company believes that such statements are based on reasonable assumptions, these forward-looking statements are subject to numerous factors, risks, and uncertainties that could cause actual outcomes and results to be materially different from those projected. These factors, risks and uncertainties include, among others, the following: economic or industry downturns; the variability of bookings due to volatile market conditions, subjectivity Clients exercise in placing orders, and timing of large orders; volatility and disruption of the credit markets; its inability to generate cash and access capital on reasonable terms and conditions; its inability to implement its business strategy to increase aftermarket parts and services revenue; its ability to comply with local content requirements; delivery delays by certain third party suppliers of large equipment; its ability to implement potential tax strategies; competition in its markets; failure to complete or achieve the expected benefits from any future acquisitions; economic, political, currency and other risks associated with international sales and operations; fluctuations in currencies and volatility in exchange rates; loss of senior management; environmental compliance costs and liabilities; failure to maintain safety performance acceptable to its Clients; failure to negotiate new collective bargaining agreements; unexpected product claims and regulations; infringement on its intellectual property or infringement on others' intellectual property; its pension expense and funding requirements; difficulty in implementing an information management system; and the Company's brand name may be confused with others. These and other risks are discussed in detail in the Company's filings with the Securities and Exchange Commission at www.sec.gov. Actual results, performance, or achievements could differ materially from those expressed in, or implied by, the forward-looking statements. The Company can give no assurances that any of the events anticipated by the forward-looking statements will occur or, if any of them does, what impact they will have on results of operations and financial condition. The Company undertakes no obligation to update or revise forward-looking statements, which may be made to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events except as required by applicable laws. For information about Dresser-Rand, go to its website at www.dresser-rand.com.
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