Dresser-Rand Group Inc. - 2011-08-30

The company has reported that its board of directors has authorized in total the repurchase of up to $150 million of its common stock, which is approximately 5% of the company's outstanding shares. As of August 25, 2011, Dresser-Rand had 78.7 million shares of common stock outstanding.

The stock buyback transaction is being carried out under an accelerated stock buyback agreement with Goldman, Sachs & Co.