. please update this article to reflect recent events or newly available information . july 2011 dresser industries was a multinational corporation headquartered in dallas texas united states which provided a wide range of technology products and services used for developing energy and natural resources . in 1998 dresser merged with its main rival halliburton 1 halliburton sold many of former dresser non oil patch divisions retaining the m w kellogg engineering and construction company and the dresser oil patch products and services that complemented halliburton s energy and natural resource businesses . in 2001 halliburton sold five separate but somewhat related former dresser non oil patch divisions to an investment banking firm . those five operations later took the name dresser inc. in october 2010 dresser inc. was acquired by general electric . 2 it is headquartered in addison texas . 3 contents 1 history 1.1 public offering 1.2 merger with halliburton 2 the new dresser 3 see also 4 references 5 external links history edit solomon dresser created a packer using rubber for a tight fit and after taking out a patent on may 11 1880 he began advertising and selling his product the dresser cap packer from bradford 1880 pennsylvania in the heart of the oilfields . dresser s packer was one of many available on the market and it was another invention that saw a substantial expansion of the company . a flexible coupling the dresser joint that he built in 1885 to join pipes together in such a way that they would not leak natural gas . this coupling also used rubber for a tight fit and it was so successful that it permitted for the first time the long range transmission of natural gas from the gas fields where it was extracted to the cities which were the main gas consumers . 4 as the natural gas industry prospered and expanded after 1900 dresser s company grew as pipelines were built over great distances . by 1927 the company s annual sales had reached us 3.7 million and was employing 400 workers . 4 public offering edit following dresser s death his descendants decided to sell it and in 1928 the wall street investment banking firm of w. a. harriman and company inc. converted the firm into a public company by issuing 300 000 shares of stock . h. neil mallon was selected as president and chief executive officer ; holding that position until his retirement in 1962 . under mallon dresser began a program of acquisitions designed to help it survive the threat posed to its core business by the introduction of welding for joining pipes together . starting in 1930 dresser began acquiring companies that manufactured valves heaters pumps engines and compressors and the company diversified into such products as oil derricks blowers drill bits refractories and drilling mud . 4 in 1950 the company headquarters moved to dallas to be near the center of the nation s major oil and gas fields . it continued to purchase well known companies involved in manufacturing such things as overhead cranes gasoline dispensing pumps and heavy equipment for mining and construction . during the 1980s as the oil industry began to decline dresser s chairman john murphy began to streamline the organization of the company eliminating its insurance mining and construction equipment divisions . 4 5 in 1968 the wayne oil tank and pump company established in 1891 6 merges with dresser 7 becoming the dresser wayne company . 8 in 1974 the company acquired galion iron works and the operating assets of the jeffrey manufacturing company inc. 9 in 1982 the company acquired international harvester s construction equipment business . on january 1 1987 dresser industries and ingersoll rand merged their common businesses to form dresser rand group with headquarters in corning new york . the newly formed company had 10 manufacturing and testing facilities 70 sales offices 30 service centers and more than 7 300 employees . the partnership started as a 50 50 relationship but later dresser took a 51 % share of the assets while ingersoll rand had 49 % . 10 by 1993 it generated sales of more than us 4 billion and employed 31 800 people in fifty countries . the company had three major divisions oil field products and services industrial operations and energy processing and conversion equipment . it spun off some of its manufacturing divisions but crucially agreed to retain asbestos claims filed before the spinoff . 4 in 1994 the company expanded through acquisitions of wheatley txt a manufacturer of pumps valves and metering equipment and the baroid corporation an oil services firm in houston that had been a direct competitor . to comply with federal antitrust regulations dresser sold off its interest in m i drilling fluids company and western atlas international . upon completion of the baroid merger dresser became the third largest oil services company in the world . 4 merger with halliburton edit in 1998 dresser merged with its main rival halliburton and became known as halliburton company . 1 dick cheney negotiated the us 7.7 billion deal reportedly having done so during a weekend of quail hunting . in 2001 halliburton was forced to settle the asbestos lawsuits that it acquired as a result of purchasing dresser causing the company s stock price to fall by eighty percent in just over a year . 11 the new dresser edit dresser inc. founded 2001 but see article headquarters addison texas key people president ceo and director john p. ryan 12 svp human resources mark j. scott 12 revenue us 2bn 2007 12 number of employees 6 400 2007 12 website dresser inc. in april 2001 the dresser division excluding the former kellogg division entered an agreement to separate itself once again from halliburton by management purchasing its equity the new company to be called dresser inc. dresser inc. was a leading global multi national owned by first reserve corporation u.s. based investment firm and company management . in february 2011 general electric co. agreed to buy oil field equipment maker dresser inc. for 3 billion expanding its biggest industrial unit . ge acquired dresser from funds managed by riverstone holdings llc and first reserve corporation . the move significantly expanded ge s offerings for energy and industrial customers worldwide and is the latest in a series of acquisitions over the last 10 years that have transformed ge s global energy portfolio . the dresser brand sells services and supports products that include actuators valves meters instruments regulators switches natural gas fueled engines piping specialties retail and fleet fuel dispensers blowers and point of sale systems . the dresser brand operates in more than 60 countries with four principal business segments measurement and distribution systems flow technologies infrastructure solutions and power and compression systems . it retains trade names of masoneilan consolidated becker mooney roots and wayne fuel pumps . see also edit dallas fort worth portal companies portal list of oilfield service companies dresser atlas references edit a b dresser rand history 1995 1999 . dresser rand . retrieved 2009 04 24 . ge to buy dresser for 3 billion to bolster oil gas bloomberg news october 6 2010 contact dresser . dresser industries . retrieved on january 7 2010 . a b c d e f payne darwin . handbook of texas dresser industries . texas state historical association . retrieved 2009 04 24 . see also initiatives in energy dresser industries inc. 1880 1978 by darwin payne simon and schuster new york ny . dresser wayne celebrates milestone with 500 000th fuel dispenser national association of convenience stores 9 august 2010 retrieved 20 august 2010 http www.dresserwayne.com index.cfm go content detail dresserpage dresser % 20wayne % 20timeline gas pump company histories petrolian collectibles retrieved 20 august 2010 jeffrey tad . our history . the jeffrey company website . retrieved 2013 02 15 . dresser rand history 1981 1989 . dresser rand . retrieved 2009 04 24 . birger jon 2001 03 01 . halliburton blues . cnnmoney.com . retrieved 2009 04 24 . a b c d hoovers company profile dresser inc. . hoovers . retrieved 2009 04 24 . external links edit dresser inc. website v t e general electric subsidiaries and divisions current ge capital ge capital aviation services ge commercial finance ge energy financial services ge capital rail services europe ge technology infrastructure ge aviation ge aviation systems ge healthcare ge transportation ge energy ge digital energy ge jenbacher ge measurement & control solutions ge oil & gas ge power ge wind energy ge wind offshore ge home & business solutions ge intelligent platforms ge global research ge ventures former and defunct australian guarantee corporation1 canadian general electric1 compagnia generale di elettricit 2 electric bond and share company2 ge americom2 ge aerospace2 ge betz1 ge capital it solutions2 ge consumer & industrial gecis2 ge capital rail services2 ge equipment services1 ge industrial1 ge infrastructure1 geis2 genesis lease2 ge security2 genworth financial2 montgomery ward2 synchrony financial2 tungsram1 whatman1 joint ventures and shareholdings current cfm international 50 % engine alliance 50 % ge hitachi nuclear energy 60 % ge honda aero engines 50 % penske truck leasing prolec ge 49.99 % tbs gb former alco ge 1940 53 nbc 1926 30 1986 2004 nbcuniversal llc 2004 13 products and brands aircraft engines general comprehensive operating system genie locomotives mazda reciprocating engines trivection oven tungsram people founders charles a. coffin thomas edison edwin j. houston elihu thomson other james cash jr. ann fudge susan hockfield jeffrey r. immelt andrea jung rochelle lazarus sam nunn roger penske douglas a. warner iii jack welch bob wright places and facilities ge building general electric building nela park realty plot research laboratory river works specialty control plant switchgear plant welch technology centre other edison engineering development program ge true the general electric concert general electric edgelab general electric theater general imaging thomson houston electric company timeline united states v. general electric co. 1now integrated into other ge divisions or business groupings 2sold or spun off category commons retrieved from https en.wikipedia.org w index.php title dresser industries & oldid 739677533 categories multinational companiesoilfield services companiesprivate equity portfolio companieshalliburtonhidden categories wikipedia articles in need of updating from july 2011all wikipedia articles in need of updating navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload 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