GE adds Dresser to energy unit, partners with Allied Wireline

$3 billion Dresser deal accrues to Energy unit. Allied Wireline partners with downhole technology.

GE continues to build out its $40 billion energy technology portfolio with the acquisition this month of Dresser and Allied Wireline. The $3 billion Dresser deal sees technologies for gas engines, control and relief valves, measurement, regulation and control solutions for fuel distribution added to GE’s Energy unit. 85% of Dresser’s revenue comes from energy customers. Dresser had revenues of $2 billion and earnings of $318 million in 2009.

In a separate deal, GE Oil & Gas’ downhole technology arm has signed a partnership agreement with newly-formed Allied Wireline Services to develop GE’s open hole ‘Ultrawire’ formation evaluation tool suite. GE is also to provide Allied with technical and services support from its established facilities in the United States, Canada and the United Kingdom. More from

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