GE Pays $3 Billion for Energy Firm Dresser

General Electric announced on Oct. 6 that it is acquiring energy infrastructure company Dresser in a deal worth three billion dollars as GE seeks to expand its energy business.

The deal is "the latest in a series of acquisitions over the last 10 years that has helped grow GE's energy business and deliver record profitability," the giant conglomerate said.

Dresser, which deals with technologies for gas engines and controls for gas and fuel flows, will extend GE's reach to "energy and industrial customers around the world."

Copyright Agence France-Presse, 2010