Siemens buys US oil and gas firm

Siemens announced the purchase of the American Dresser-Rand for US$7.6 billion.

The objective of the German conglomerate is to strengthen its business in the area of ​​oil and gas in North America.

Siemens expects to complete the transactions, which must be approved by Dresser-Rand shareholders and by US and European regulators, next summer.

The deal allows the German company access to the US oil industry at a time when there is an exploitation boom, which has led to increased demand for services and equipment in that industry.