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DRESSER WAYNE ACQUIRES SUNTRONIC TECHNOLOGY GROUP
Dallas, Texas - Dresser Equipment Group's Wayne Division acquired the Suntronic Technology Group on July 30, 1999. Dresser Equipment Group is a business unit of the Halliburton Company (NYSE: HAL).
Pat Murray, President of Dresser Equipment Group, is enthusiastic about the fit between the two companies. "Wayne is one of the world's leading manufacturers of retail gasoline dispensers," Murray states. "Wayne's strength with major oil companies and large independent marketers, as well as in the hypermarket arena, is partially due to Wayne's commitment to developing and introducing new technologies in the industry, as demonstrated in this acquisition."
John Ryan, President of Wayne - North America, reflects equal enthusiasm. "Wayne's strength," he adds, "will also be greatly enhanced by Suntronic's position in the oil jobber and dealer segments of the market."
"Since our beginnings in 1982, our company has always had excellent people and superior products," comments Mike Nicholas, President of Suntronic. "As a software company, however, our ability to grow has always been limited by the constraints of traditional bank financing. Teaming up with Wayne is a very significant move. Wayne has the resources to help Suntronic increase its market penetration. This is a very positive step for Suntronic, its employees, and its customers."
At this time, the acquisition is not expected to impact the day-to-day activities of the company's employees. Wayne will remain headquartered in Austin, Texas, and Suntronic facilities will remain in Crystal Lake, Illinois and Nashville, Tennessee. For more information about the company, visit Wayne's website at www.wayne.com.
Contact
Shari Binford
Dresser Wayne
(p) 512.388.8350
Mike Nicholas
Suntronic
Hallburton Company
(p) 815.459.1959, x 2203
Robin Goodale
Halliburton Company
(p) 713.676.7681
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