Dresser sells Brazilian valve business
Dallas, TX — Dresser Inc. has completed the sale of its Brazilian on-off valve business to Cooper Cameron Corp. for a purchase price of $21.3 million.
Dresser recently announced that it had completed the sale of its worldwide on-off valve business, excluding the Brazilian operations, to Cooper Cameron. Transfer of the Brazilian operations was delayed pending receipt of various regulatory confirmations and documentation.
Dresser is using the sale’s net cash proceeds to pay down debt.
— Richard Phelps , senior editor, Control Engineering