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Dresser-Rand to repurchase $150M in shares

By Associated Press
April 24, 2008 | Comments (0)

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Industrial equipment manufacturer Dresser-Rand Group Inc. said Thursday that its board has authorized a stock the repurchase of $150 million, or about 5 percent, of its common stock.

The company had 86 million shares outstanding as of March 31.

Dresser-Rand, based in Houston, makes turbines, control systems and other equipment under the Dresser-Clark, Ingersoll Rand and Turbodyne names, among others.

The company's shares rose 49 cents to close at $33.47 Thursday.

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