General Electric buying gas engine maker Dresser for $3B in move to expand energy portfolio

GE to buy energy equipment maker Dresser for $3B

NEW YORK — GE is buying energy equipment maker Dresser for about $3 billion, its latest move to grow its product offerings in natural gas and oil markets.

Dresser, based in Addison, Texas, makes technologies for gas engines, control and relief valves, and other equipment for natural gas and fuel distribution. It reported earnings of $318 million on revenue of $2 billion last year.

General Electric Co. didn’t disclose the per-share value of the deal, or whether the purchase price includes assumed debt.