It has been a remarkable year. As you know, we formed a new business within Siemens that combines the Siemens and Dresser-Rand compressor products and service businesses. To preserve the brand strengths of both companies, we are now Dresser-Rand – A Siemens Business.
Both companies have much in common: a long and proud engineering tradition with roots that date back to the mid-19th century; global presence; great people with know-how and understanding of clients’ needs; successful business records; and premium brand recognition within the industry.
Siemens and D-R, combined with the most extensive gas turbine driver offering with the products acquired from Rolls Royce, is expected to become the leading rotating equipment solutions provider to the oil and gas and environmental solutions markets. We can provide far more choices for our clients, particularly in relation to market coverage, local service capabilities and drivers for both compression and power generation applications.
With the new Dresser-Rand business, there are three primary advantages for our valued clients.
First, with Siemens’ well-established presence in Europe and Asia and Dresser-Rand’s stronghold in North America, we now have greater scale and reach. Our combined presence in more than 150 countries, including more than 80 manufacturing and service locations, will enable faster response through local resources.
Second, a larger product and services portfolio gives our clients more choices from a single provider. And with the extended population of installed equipment and increased services support network, we believe that we have the scale and reach to further enhance the quality and timeliness of our day-to-day service coverage.
And finally, we are bringing the best of our two companies together – unequaled products and technologies, talented people, extensive industry know-how, and unmatched knowledge about our markets.
Our commitment to our clients is that the new Dresser-Rand business within Siemens will be an accessible, responsive partner of choice. Beyond the expanded offerings of products and services, we are working on a seamless integration which ensures business continuity throughout the integration period. Over the coming months, we plan a measured approach to the integration of our two businesses. The path forward includes the following key elements:
- Continuing to be a safe and reliable supplier
- Providing technology expertise and leading in innovation
- Responding with speed and flexibility
- Acting local with global scale and reach
- Maintaining the best total cost of ownership.
If we stick to what brought us here today – ethical behavior, a culture of “safety first,” operational excellence, and high-quality products and services – we are confident that we will enjoy a successful integration with no disruption to clients, suppliers or other important stakeholders.
We remain dedicated to delivering the best-value solutions and our vision remains: earn client loyalty for life.
Executive Vice President