A $33.5 million equipment contract with Valero Energy Corporation has been concluded by the Dresser-Rand Group Inc. Dresser-Rand is among the largest suppliers of rotating equipment solutions to companies that operate in the worldwide oil, gas, petrochemical and process industries. It operates manufacturing facilities in the United States, France, Germany, Norway and India. Valero is among the companies which will be supplied with Dresser-Rand equipments consisting of four reciprocating compressors, two centrifugal compressors and two steam turbines.

According to Jim Heid, Vice President for Business Solutions at Dresser-Rand, they are pleased by Valero’s confidence in the Company. They are also pleased to be playing a major role in supplying rotating equipment for the company’s significant expansion projects. They look forward to adding value throughout the life cycle of the equipment for that long time valued client.

Valero has long been recognized throughout the industry as a leader in the production of premium and environmentally clean products such as reformulated gasoline, California Air Resources Board (CARB) Phase II gasoline, kerosene, sulfur, low-sulfur diesel and oxygenates. The company owns and operates 17 refineries and has approximately 5,800 retail and branded wholesale outlets throughout the United States, Canada, and the Caribbean, with a combined throughput capacity of approximately 3.1 billion barrels a day, making it the largest refiner in North America. Valero Energy Corporation’s retail and branded wholesale outlets are under various brand names including Valero, Diamond Shamrock, Shamrock, Ultramar, and Beacon. It is based in San Antonio, Texas with approximately 21,000 employees and 2006 revenues of more than $90 billion.

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