Siemens' federal arm closes Dresser-Rand government divestiture

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.