HOUSTON, Feb. 22, 2011 /PRNewswire/ -- In response to inquiries, Dresser-Rand Group Inc. ("Dresser-Rand" or the "Company") (NYSE: DRC) made the following disclosures concerning its business in the Middle East and North Africa. In 2010, revenues from countries in the region amounted to approximately 6.9% of total revenues of nearly $2.0 billion. The following countries in the region, Algeria, Bahrain, Egypt, Libya, Tunisia and Yemen, that have or are experiencing unrest, represent approximately 2.6% of total 2010 revenues. Of these six countries, only Libya exceeds 1% of total 2010 revenues representing 1.2%.
According to Blaise Derrico, Dresser-Rand's Director, Investor Relations, "While unrest in the region is a cause for concern, we believe the situation in certain parts of the Middle East and North Africa will not have a material adverse impact on our expected 2011 revenues or operating results."
The Company will host a conference call to discuss its fourth quarter 2010 results on Friday, February 25, 2011, at 9:00 a.m. Eastern Time and will respond to questions concerning their business in the region.
In a news release issued on February 18, 2011, the Company announced that the Web cast of its fourth quarter 2010 conference call can be accessed through the Company's Web site, www.dresser-rand.com. Participants may also join the conference call by dialing (877) 303-3199 in the United States and (408) 427-3882 from outside the United States five to ten minutes prior to the scheduled start time.
If you are unable to listen to the live Web cast, a replay will be archived on the Company's Web site, www.dresser-rand.com. You may listen to a taped replay of the conference call by dialing (800) 642-1687 in the United States or (706) 645-9291 outside the United States and referencing conference ID 45389190 beginning at 12:00 (noon) Eastern Time, Friday, February 25, 2011, until 11:59 p.m. Eastern Time, Friday, March 4, 2011.
Dresser-Rand is among the largest suppliers of rotating equipment solutions to the worldwide oil, gas, petrochemical, and process industries. Dresser-Rand operates manufacturing facilities in the United States, France, United Kingdom, Germany, Norway, India, and China, and maintains a network of 39 service and support centers covering more than 140 countries.
This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements with respect to planned or proposed repurchase of shares of common stock. Forward-looking statements include, without limitation, Dresser-Rand's plans, objectives, goals, strategies, future events, future revenue, or performance, capital expenditures, financing needs, plans, or intentions relating to acquisitions, business trends, executive compensation, and other information that is not historical information. The words "anticipates", "believes", "expects," "intends", and similar expressions identify such forward-looking statements. Although Dresser-Rand believes that such statements are based on reasonable assumptions, these forward-looking statements are subject to numerous factors, risks, and uncertainties that could cause actual outcomes and results to be materially different from those projected. These factors, risks and uncertainties include, among others, the following: potential for material weaknesses in its internal controls; economic or industry downturns; its inability to implement its business strategy to increase aftermarket parts and services revenue; competition in its markets; failure to complete or achieve the expected benefits from any future acquisitions; economic, political, currency and other risks associated with international sales and operations; fluctuations in currencies and volatility in exchange rates; loss of senior management; environmental compliance costs and liabilities; failure to maintain safety performance acceptable to its clients; failure to negotiate new collective bargaining agreements; unexpected product claims and regulations; infringement on its intellectual property or infringement on others' intellectual property; difficulty in implementing an information management system; and Dresser-Rand's brand name may be confused with others. These and other risks are discussed in detail in Dresser-Rand's filings with the Securities and Exchange Commission at www.sec.gov. Actual results, performance, or achievements could differ materially from those expressed in, or implied by, the forward-looking statements. Dresser-Rand can give no assurances that any of the events anticipated by the forward-looking statements will occur or, if any of them does, what impact they will have on results of operations and financial condition. Dresser-Rand undertakes no obligation to update or revise forward-looking statements, which may be made to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. For information about Dresser-Rand, go to its website at www.dresser-rand.com.
SOURCE Dresser-Rand Group Inc.