Siemens' federal arm closes Dresser-Rand government divestiture
- By Ross Wilkers
- Apr 04, 2018
Siemens’ U.S. federal arm has completed the sale of its now-former Dresser-Rand government business to industrial company Curtiss-Wright for $212.5 million in cash, the companies said Tuesday.
First announced in February, the divestiture is intended to help Siemens further pivot toward more core high-technology offerings for agencies through the global conglomerate’s Siemens Government Technologies subsidiary.
Dresser-Rand’s government business manufactures steam turbines and other heavy machinery systems for Navy aircraft carriers and submarines. Curtiss-Wright sought to expand its Navy aftermarket business and become a more prominent ship repair and maintenance services player.
The business is the sole supplier of steam turbines and main engine guard valves for Navy aircraft carriers.
Siemens acquired Dresser-Rand three years ago for $7.6 billion.
Ross Wilkers is a senior staff writer for Washington Technology. He can be reached at email@example.com. Follow him on Twitter: @rosswilkers. Also connect with him on LinkedIn.