HOUSTON, Jan. 14 /PRNewswire-FirstCall/ -- Dresser-Rand Group Inc. ("Dresser-Rand" or the "Company") today confirmed that it has reached a tentative agreement with the IAM Moore Lodge # 1580 representing 280 workers at its Wellsville, New York facility. The agreement is subject to a ratification vote by its members.
Elizabeth C. Powers, Vice President and Chief Administrative Officer said, "The company is pleased with the progress made in the negotiations," and praised the negotiating teams for their resolve in this effort. Powers said that the agreement is an important step in ensuring the long-term competitiveness of the Wellsville operation.
"The tentative agreement will not be final until a ratification vote by the members," said Adam Nightingale, Director Human Resources, North American Operations & Asia Pacific. "We believe that the Wellsville employees understand the importance of reaching an agreement as a critical and positive action to position Wellsville competitively for the future."
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, Germany, Norway, India, and Brazil, and maintains a network of 24 service and support centers covering 105 countries.
This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts may be forward-looking statements. Many risks and uncertainties may impact the matters addressed in the forward-looking statements, and actual results may differ materially from those expressed or implied. For a discussion of the factors that could cause actual results to differ, please see the disclosure under the heading "Risk Factors" in the Company's periodic quarterly report on Form 10-Q filed with the Securities and Exchange Commission.
For information about Dresser-Rand, go to our website at http://www.dresser-rand.com/.
