Siemens entered into an agreement to acquire Dresser-Rand for approximately $7.6 billion. With its comprehensive portfolio of compressors, steam turbines, gas turbines and engines, Dresser-Rand is a leading supplier for the oil & gas, process, power and other industries in the related energy infrastructure markets worldwide. The acquisition complements Siemens’ existing offerings, notably for the global oil & gas industry and for distributed power generation. Dresser-Rand's product portfolio completes Siemens’ offerings with compressors and turbines. Applications covered are high-pressure field injection and oil recovery, gas liquefaction, gas transmission and refinery processes. Additionally, Dresser-Rand offers additional technologies for distributed power generation such as reciprocating engines as drives for compressors and power generation. This complements Siemens’ offerings in turbo compressors, downstream and industrial applications and in larger-sized steam turbines.