Dresser Completes Sale of Brazilian On/Off Valve Business

Dresser, Inc. reports that it has completed the previously announced sale of its On/Off valve business in Brazil to Cooper Cameron Corporation

Dresser had announced in December that it had completed the sale of its worldwide On/Off valve business, excluding the Brazilian operations, to Cooper Cameron. The transfer of the Brazilian operations was delayed pending receipt of various regulatory confirmations and documentation.

Dresser is using the net cash proceeds from the sale to pay down debt.