HOUSTON (AP) - Dresser-Rand Group Inc., a supplier of rotating equipment to the oil and gas industries, said Thursday it bought the Gimpel valve business from a Tyco Flow Control, a division of conglomerate Tyco International.
Gimpel products include a line of trip, trip throttle and non-return valves to protect steam turbines. The company also produces related equipment for the industrial and marine industries.
Dresser-Rand said it will immediately begin taking orders for Gimpel products and repairing equipment in the product line.
Financial terms of the deal were not disclosed.
Dresser-Rand shares fell 1 cent to close at $31.56 on the New York Stock Exchange.
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