The Dresser-Rand business, part of German Siemens AG Power and Gas (PG), is a leading supplier of mission-critical, high-speed rotating equipment solutions to the worldwide oil, gas, petrochemical, and process industries. As part of the global Siemens family, the Dresser-Rand business offers an equipment portfolio that includes turbo and reciprocating compressors; steam turbines; industrial and aero-derivative gas turbines; high-speed engines; and modular power substations. With the worlds largest installed base, one of the worlds largest technical support and service center networks, and a presence in more than 150 countries worldwide, the Dresser-Rand business delivers local solutions and services on a global scale. Dresser-Rand Company was formed on December 31, 1986, as an equally owned joint venture between Dresser Industries and Ingersoll Rand. In October 1992, Dresser Industries purchased a 1% equity interest from Dresser-Rand Company.