Dresser-Rand reports over $1 billion of debt, plans to delever rapidly

By Aleesia Forni

Columbus, Ohio, Jan. 5 - Dresser-Rand Group Inc. reported a current total debt level of roughly $1 billion during the company's presentation at Pritchard Capital Partners Energize 2012 Conference in San Francisco on Thursday.

"We have increased leverage as a result of the acquisition of Grupo Guascor in May of last year and more than $0.5 billion of share repurchases," director of investor relations Blaise Derrico said during the presentation.

However, Derrico added that the company has demonstrated its ability to delever quickly in the past due to its generation of "strong cash flows through the cycle."

"So, we have taken on a bit more leverage, a bit more than [we] are comfortable with, but we have demonstrated an ability to delever rapidly, and I believe you will see us do that in the go forward case," Derrico said.

Dresser-Rand is a Houston-based maker of industrial rotating equipment.

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