Synchrony is a technology development company with a portfolio of world-class technologies and products including active magnetic bearings (AMB), high speed motors and generators, and power electronics for clean, efficient, and reliable rotating machinery. A private company founded in 1993, Synchrony is headquartered in Roanoke County, Virginia, where it develops, manufactures, and tests its products in an ISO 9001-certified facility that includes a best-in-class model shop for rapid prototype fabrication and assembly. On December 7, 2011, the Company signed a definitive agreement to acquire Synchrony, Inc.

About Dresser-Rand

Dresser-Rand is among the largest suppliers of rotating equipment solutions to the worldwide oil, gas, petrochemical, and process industries. The Company operates manufacturing facilities in the United States, France, United Kingdom, Spain, Germany, Norway, India, and China, and maintains a network of 45 service and support centers (including 6 engineering and R&D centers) covering more than 140 countries. Dresser-Rand has principal offices in Paris, France, and Houston, Texas.

This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, the Company's plans, objectives, goals, strategies, future events, future revenue, or performance, capital expenditures, financing needs, plans, or intentions relating to acquisitions, business trends, executive compensation, and other information that is not historical information. The words "anticipates," "believes," "expects," "intends," "appears," and similar expressions identify such forward-looking statements. Although the Company believes that such statements are based on reasonable assumptions, these forward-looking statements are subject to numerous factors, risks, and uncertainties that could cause actual outcomes and results to be materially different from those projected. These factors, risks and uncertainties include, among others, the following: potential for material weaknesses in its internal controls; economic or industry downturns; the variability of bookings due to volatile market conditions, subjectivity Clients exercise in placing orders, and timing of large orders; volatility and disruption of the credit markets; its inability to generate cash and access capital on reasonable terms and conditions; its inability to implement its business strategy to increase aftermarket parts and services revenue; its ability to implement potential tax strategies; competition in its markets; failure to complete or achieve the expected benefits from any future acquisitions; economic, political, currency and other risks associated with international sales and operations; fluctuations in currencies and volatility in exchange rates; loss of senior management; environmental compliance costs and liabilities; failure to maintain safety performance acceptable to its Clients; failure to negotiate new collective bargaining agreements; unexpected product claims and regulations; infringement on its intellectual property or infringement on others' intellectual property; its pension expense and funding requirements; difficulty in implementing an information management system; and the Company's brand name may be confused with others. These and other risks are discussed in detail in the Company's filings with the Securities and Exchange Commission at www.sec.gov.

Actual results, performance, or achievements could differ materially from those expressed in, or implied by, the forward-looking statements. The Company can give no assurances that any of the events anticipated by the forward-looking statements will occur or, if any of them does, what impact they will have on results of operations and financial condition. The Company undertakes no obligation to update or revise forward-looking statements, which may be made to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events except as required by applicable laws. For information about Dresser-Rand, go to its website at www.dresser-rand.com.

DRC-FIN

Synchrony is a technology development company with a portfolio of world-class technologies and products including active magnetic bearings (AMB), high speed motors and generators, and power electronics for clean, efficient, and reliable rotating machinery. A private company founded in 1993, Synchrony is headquartered in Roanoke County, Virginia, where it develops, manufactures, and tests its products in an ISO 9001-certified facility which includes a best-in-class model shop for rapid prototype fabrication and assembly.

According to Christopher Rossi, Dresser-Rand's Vice President of Technology and Business Development, "Several years ago we identified the strategic importance of being able to offer oil-free solutions in high speed rotating equipment applications. The overall value proposition for eliminating auxiliary oil systems centers around three principles: a) reduced footprint and weight in platform and FPSO applications which generates overall CAPEX savings in the construction phase, b) oil-lubricated bearings in subsea applications are neither practical nor reliable, and c) lubrication oil in compressor and steam turbine applications in general needs to be reconditioned and ultimately discarded as it is mixed with process gas or steam, thus making it environmentally unfriendly.

"As we believe that this technology will need to develop on an ongoing basis along with the normal evolution of the other components of our compressor and turbine offerings, we made the decision that we either needed to invest in our own internal R&D effort or acquire excellent design capacity in the marketplace.

"After an extensive technology assessment process we concluded that we have found, what we believe to be, the best technology that exists today in the form of Synchrony.

"We believe that the seamless integration of this capability into our product development process will provide us with the ability to continuously improve our overall equipment designs, and is the fastest and least expensive way to build this capability internally.

"Synchrony has already realized this value in the defense, HVAC, wastewater, and renewable energy markets, and will continue to supply its products and technology to leading rotating equipment manufacturers in these respective markets."

Under the agreement, Dresser-Rand will acquire Synchrony, Inc. for approximately $50 million net of cash acquired. The agreement includes the potential for additional consideration of up to a maximum of $10 million tied to technical milestones and to business performance. It should be noted that the operating costs for this acquisition are already included in the Company's guidance for 2012 previously provided.

Dr. Victor Iannello, Synchrony's CEO and President, added, "We are truly excited about becoming part of Dresser-Rand as we believe its global presence and resources will accelerate our growth. I am confident that the combination of Dresser-Rand and Synchrony provides for new opportunities and unparalleled value for our business partners."

About Dresser-Rand

Dresser-Rand is among the largest suppliers of rotating equipment solutions to the worldwide oil, gas, petrochemical, and process industries. The Company operates manufacturing facilities in the United States, France, United Kingdom, Spain, Germany, Norway, India, and China, and maintains a network of 45 service and support centers (including 6 engineering and R&D centers) covering more than 140 countries. Dresser-Rand has principal offices in Paris, France, and Houston, Texas.

This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, the Company's plans, objectives, goals, strategies, future events, future revenue, or performance, capital expenditures, financing needs, plans, or intentions relating to acquisitions, business trends, executive compensation, and other information that is not historical information. The words "anticipates", "believes", "expects," "intends", "appears", and similar expressions identify such forward-looking statements. Although the Company believes that such statements are based on reasonable assumptions, these forward-looking statements are subject to numerous factors, risks, and uncertainties that could cause actual outcomes and results to be materially different from those projected. These factors, risks and uncertainties include, among others, the following: potential for material weaknesses in its internal controls; economic or industry downturns; the variability of bookings due to volatile market conditions, subjectivity Clients exercise in placing orders, and timing of large orders; volatility and disruption of the credit markets; its inability to generate cash and access capital on reasonable terms and conditions; its inability to implement its business strategy to increase aftermarket parts and services revenue; its ability to implement potential tax strategies; competition in its markets; failure to complete or achieve the expected benefits from any future acquisitions; economic, political, currency and other risks associated with international sales and operations; fluctuations in currencies and volatility in exchange rates; loss of senior management; environmental compliance costs and liabilities; failure to maintain safety performance acceptable to its Clients; failure to negotiate new collective bargaining agreements; unexpected product claims and regulations; infringement on its intellectual property or infringement on others' intellectual property; its pension expense and funding requirements; difficulty in implementing an information management system; and the Company's brand name may be confused with others. These and other risks are discussed in detail in the Company's filings with the Securities and Exchange Commission at www.sec.gov. Actual results, performance, or achievements could differ materially from those expressed in, or implied by, the forward-looking statements. The Company can give no assurances that any of the events anticipated by the forward-looking statements will occur or, if any of them does, what impact they will have on results of operations and financial condition. The Company undertakes no obligation to update or revise forward-looking statements, which may be made to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events except as required by applicable laws. For information about Dresser-Rand, go to its website at www.dresser-rand.com.

DRC-FIN

SOURCE Dresser-Rand Group Inc.

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(ROANOKE, VA January 25, 2011) - ROANOKE, VA -- Synchrony, Inc., an industry leader in clean, efficient, and reliable technology for rotating machinery and power conversion systems, today announced another new partnership that capitalizes on its award-winning magnetic bearing technology. Gardner Denver, Inc., manufacturer of Hoffman® and Lamson® brands of blowers and a worldwide leader in centrifugal technology, will integrate Synchrony's high-speed motors on magnetic bearings into its new Hoffman Revolution™ line of high-speed aeration blowers for the water and wastewater treatment markets. The new blower line carries the label "Powered by Synchrony" in recognition of the performance and savings through increased efficiency, reliability and control. Synchrony's technology is an integral part of the Hoffman Revolution™, with a high-speed permanent magnet motor controlled by a variable speed drive. The blowers offer flows from 2,500-11,000 CFM and pressures from 3-15 psig, while providing up to 45% energy savings from a footprint that is 50% smaller than a conventional multi-stage centrifugal blower.

Gardner Denver CEO Barry Pennypacker unveiled the Hoffman Revolution™ line at the October 2010 Water Environment Federation Technical Exhibit Conference (WEFTEC) in New Orleans with Synchrony CEO Victor Iannello in attendance.

"The Hoffman Revolution™ is the world's most advanced energy management blower system," said Brian Cunkelman, Vice President, Industrial Products - Americas for Gardner Denver. "Our partnership with Synchrony has led to breakthroughs in increased reliability, minimal maintenance, and a smaller footprint - all resulting in cost savings to the customer."

Gardner Denver has made a significant, multi-year commitment to Synchrony for its high-speed motors incorporated in the Hoffman Revolution™ blower (www.HoffmanRevolution.com). The new partnership demonstrates the broad applications of Synchrony's innovations in the magnetic bearing market - improved reliability, reduced friction, minimized vibration, advanced health monitoring and diagnostics, and the elimination of the environmental disadvantages of lubricants. These advances have accelerated the use of magnetic bearings in multiple applications including highly efficient and environmentally friendly motors, generators, pumps, compressors, and fans in sectors such as HVAC, oil and gas, renewable energy, industrial gas, and defense markets.

Processing Magazine recognized the Hoffman Revolution™ as a break though technology award winner in December 2010 (See http://processingmag.texterity.com/processing/201012#pg8).

This introduction further validates Synchrony's commercialization efforts and its technology. In 2009, R&D Magazine named Synchrony as a recipient of its prestigious Editor's Choice award and one of the 100 most technologically significant new products of the year. Synchrony's magnetic bearing products were also featured in a New York Times article in 2010 (See http://www.nytimes.com/2010/01/03/business/03novel.html).

"We're excited to partner with a worldwide industry leader like Gardner Denver," said Iannello. "Blower technologies are just one example of many applications across industrial sectors that are increasingly looking to reduce their environmental footprint with clean, efficient technology that delivers faster, stronger and smarter results."

Founded in 1993, Synchrony brings a spirit of engineering excellence, bold innovation and creativity to improving rotating machinery and power conversion systems. The company develops and delivers world-class products that maximize the ROI, energy savings, and environmental benefit of its customers’ machines. Synchrony is headquartered in Salem, Virginia.  For more information visit the new www.synchrony.com.

(ROANOKE, VA July 6, 2010) -ROANOKE, VA -- Attendees of the ASME Turbo Expo 2010 in Glasgow, Scotland, had a chance to experience Synchrony's suite of products and technology in a new and bigger way. Driven by increased customer interest, Synchrony introduced a new display booth that effectively doubles the floor space. It features an open design, allowing visitors to freely enter from any direction and to easily interact with Synchrony's personnel and products. A center tower hosts audio and video monitors that showcase the company's capabilities. The display booth includes informative "kiosks" provide visitors with more information about the company and also provide convenient tables for private discussions.

On display were a wide range of Synchrony products and demonstration units, including award winning Fusion® magnetic bearings. In addition to magnetic bearings, Synchrony highlighted its integrated high-speed motors , high-speed generators , and power conversion electronics. Included was a live demonstration of Synchrony's Machine Health Monitoring software using an advanced machine consisting of a 250 HP NEMA motor retrofitted with magnetic bearings.

"The growing global interest in Synchrony's clean and efficient product technologies is extremely encouraging to us," said Troy Jamison, Senior Vice President for Business Development. "The new design and layout of our display booth allowed us to better accommodate the larger number of attendees that wanted to learn more about us."

Turbo Expo brings together the top players in the gas turbine industry and academia -- attracting a key audience from aerospace, oil & gas, power generation and other prime mover-related industries.

If you were unable to attend the show, Synchrony will also be exhibiting at the 39th Turbomachinery Symposium in Houston Texas, October 4, as well as several shows throughout the 2011 year.

Founded in 1993, Synchrony brings a spirit of engineering excellence, bold innovation and creativity to improving rotating machinery and power conversion systems. The company develops and delivers world-class products that maximize the ROI, energy savings, and environmental benefit of its customers’ machines. Synchrony is headquartered in Salem, Virginia.  For more information visit the new www.synchrony.com.

(ROANOKE, VA June 16, 2010) - Synchrony, Inc., an industry leader in clean, efficient, and reliable technology for rotating machinery and power conversion systems, welcomed Virginia Governor Bob McDonnell for a VIP tour of its facility today. Elected officials, community and business leaders from the Roanoke Valley were also in attendance.

Synchrony, Inc. is a business success story in spite of a down economy. Synchrony's innovations in the magnetic bearing market improve reliability, reduce friction, minimize vibration and offer advanced health monitoring and diagnostics -- all without the potential environmental disadvantages of lubricants. These advances have accelerated the use of magnetic bearings in the industrial and defense sectors. The wide range of applications include highly efficient and environmentally friendly motors, generators, pumps, compressors, fans, and blowers in sectors such as HVAC, oil and gas, renewable energy, air separation, water treatment, and defense markets.

In 2009, R&D magazine named Synchrony's Fusion® bearing as a prestigious Editor's Choice and one of the 100 most technologically significant products of the past year and Synchrony was also prominently featured earlier this year in The New York Times.

Governor McDonnell was impressed by the long strides that Synchrony had made in a short time from R&D to taking its products to market. The governor learned of the many broad applications for Synchrony's technology and the implications for further economic development and job creation in the Roanoke Valley. During the tour of the facility, the governor viewed the company's leading products, including its monitoring software, which can utilize the latest iPad technology to monitor diagnostics. The governor also learned how Synchrony's drive trains are being integrated into green, efficient chillers manufactured by McQuay International, which has operations in Staunton, Virginia.

"Virginia is home to hundreds of thousands of technology jobs and Synchrony is a bright spot for new emerging technology right here in the Roanoke Valley," said Governor McDonnell. "It is a model business for our state and nation, providing innovation and employing hard working and dedicated Virginians. This is just the beginning for this company, and it was my honor to visit today and congratulate everyone involved in this success story."

"Governor McDonnell has a keen interest in clean technology, not just for its environmental benefits, but also for its efficiency and economic benefits," said Synchrony CEO and President Victor Iannello. "We are proud to showcase our latest innovations in magnetic bearing technology and their broad integration in many modern day applications which also fit well into the governor's economic and job creation agenda and we were fortunate to have him here today."

Founded in 1993, Synchrony brings a spirit of engineering excellence, bold innovation and creativity to improving rotating machinery and power conversion systems. The company develops and delivers world-class products that maximize the ROI, energy savings, and environmental benefit of its customers’ machines. Synchrony is headquartered in Salem, Virginia.  For more information visit the new www.synchrony.com.

(SALEM, Va., Jan. 13 /PRNewswire/) -- Synchrony, Inc., the leader in clean, efficient, and reliable technology for rotating machinery and power conversion systems, announced today that it has received $10 million in Series C funding from New River Management VI, a venture fund managed by Third Security, LLC. The funding was committed following continued analysis of the global market for Synchrony's product lines, its expanded production capacity and sales growth as demonstrated by a recent $16 million sales commitment from McQuay International for its clean, frictionless drive trains.

"This additional investment in Synchrony mirrors the company's progress in turning its leadership in magnetic bearings technology into products that have the potential to establish Synchrony as a market leader," said Randal J. Kirk, chairman and CEO, Third Security.  "With the increasing global demand for innovative, clean industrial components, Synchrony is well positioned with its product line, especially the award-winning Fusion® magnetic bearing. We are pleased that Synchrony is now demonstrating that its technology can provide functional solutions to real world problems and have every confidence that it will grow to achieve commercial success in competitive international markets that demand cleaner, more efficient technology."

Synchrony's innovations in the magnetic bearing market improve reliability, reduce friction, minimize vibration and offer advanced health monitoring and diagnostics -- all without the potential environmental disadvantages of lubricants. These advances have accelerated the use of magnetic bearings in the industrial and defense sectors. The wide range of applications include highly efficient and environmentally friendly motors, generators, pumps, compressors, fans, and blowers in sectors such as HVAC, oil and gas, renewable energy, air separation, water treatment, and defense markets.

The company's award winning Fusion® bearings were commercially introduced in 2008 after years of development and testing. Fusion® bearings are unique from all other magnetic bearings in their compact size, elimination of external electronics, high speed digital processing and unequaled diagnostic capabilities. In 2009, R&D magazine named Synchrony's Fusion® bearing as a prestigious Editor's Choice and one of the 100 most technologically significant products of the past year. Synchrony's Fusion line was also featured this month in a New York Times article. (See http://www.nytimes.com/2010/01/03/business/03novel.html )

"This is another significant step for Synchrony and a demonstration of the strong sales potential for our magnetic bearing technology," said Synchrony President and Founder Dr. Victor Iannello. "The latest investment from Third Security will help provide us with the necessary resources to meet the expanding global demand for magnetic bearings, high-speed motors and high-speed generators."

The latest round of Synchrony's funding follows a 2006 investment of $5 million from Third Security LLC and NewVa Capital Partners. In 2007, Synchrony secured an additional $10 million in Series B financing from the same venture capital firms.

Founded in 1993, Synchrony brings a spirit of engineering excellence, bold innovation and creativity to improving rotating machinery and power conversion systems. The company develops and delivers world-class products that maximize the ROI, energy savings, and environmental benefit of its customers’ machines. Synchrony is headquartered in Roanoke, Virginia.

Founded in 1993, Synchrony brings a spirit of engineering excellence, bold innovation and creativity to improving rotating machinery and power conversion systems. The company develops and delivers world-class products that maximize the ROI, energy savings, and environmental benefit of its customers’ machines. Synchrony is headquartered in Roanoke, Virginia.

September 20, 2009

When former Virginia Governor, George Allen, walked through the doors at Synchrony in Salem, he met men who would give him some fresh ideas in energy. He got a tour of the building where workers specialize in magnetic bearings. The products don’t use oil and they help cut down on electricity costs.

It’s something that interests Allen as the Chairman of the American Energy Freedom Center. “Using this magnetic approach, I think, is revolutionary. It will save at least 10% on electricity," said Allen.

Allen said using this technology could save tens of millions of dollars for companies who use a lot of electricity.

In the end, Allen wants the United States to depend on its own energy sources. “We have the coal here in our country; we have the oil and natural gas in our country. We have obviously Synchrony. It’s a prime example of how we have the creative talent in our country,” he said.

Allen explains how energy has a major impact on our success as a country.

Read the entire article and view the WSLS10 video at WSLS.com >>

Founded in 1993, Synchrony brings a spirit of engineering excellence, bold innovation and creativity to improving rotating machinery and power conversion systems. The company develops and delivers world-class products that maximize the ROI, energy savings, and environmental benefit of its customers' machines. Synchrony is headquartered in Roanoke, Virginia.

"The Turbomachinery Symposium is the premiere forum for us to launch our new website and corporate identity," said Synchrony President and Chief Executive Victor Iannello. "The milestones we've reached with our Fusion® line and other world-class products are now matched with a strong brand platform and a greater focus on providing value for our customers."

The new site will host a knowledge center, providing detailed educational materials for better understanding of the advanced technologies behind Synchrony's products - providing leadership in developing and delivering world-class products for improving the performance of rotating machinery. The site will also feature a regular blog feed with commentary and analysis on the latest industry news from Synchrony President and CEO Victor Iannello.

The new web site and corporate strategy also showcase Synchrony's pioneering efforts in offering a standardized product line - including product specifications for a broad range of available sizes and levels of performance. Synchrony's focus on standardized products, improved performance, and ease of integration is further strengthened with specific content within key markets for applications using magnetic bearings products and high speed motors and generators - all part of Synchrony's educational goals for increasing the knowledge and understanding of the technological advances in magnetic bearing technology.

"These changes demonstrate our forward-thinking views," Iannello concluded. "Synchrony remains focused on our primary mission of improving rotating machinery and power conversion systems, maximizing customer ROI, energy savings and benefit to the environment."

Founded in 1993, Synchrony brings a spirit of engineering excellence, bold innovation and creativity to improving rotating machinery and power conversion systems. The company develops and delivers world-class products that maximize the ROI, energy savings, and environmental benefit of its customers’ machines. Synchrony is headquartered in Roanoke, Virginia.

• No external electronics -- No other active magnetic bearing in the world can operate without an external electronic controller.
• Compact size -- Even with the integrated electronics, the size envelope of the Fusion® bearing is smaller than other magnetic bearings of equal load capacity.
• Unequaled diagnostic capabilities -- Integrated sensors continuously monitor the health of processors, power devices, coils, and cabling. Each Fusion® bearing can record, monitor, and log bearing and machine conditions. This information can be accessed through an integrated Ethernet port, which allows local and/or remote monitoring.
• High speed digital processing and advanced control algorithms -- Each Fusion® bearing has a dedicated digital signal processor and Synchrony’s high performance control algorithms to improve machine stability and greatly lower vibration.

Applications of magnetic bearings systems are increasing as traditional oil-lubricated bearings and drive trains are replaced with clean, frictionless magnetic bearings products and direct-drive high-speed drive trains. Fusion® magnetic bearings are creating new opportunities for integration into motors, generators, pumps, compressors, fans, and blowers in the oil and gas, air separation, power generation, and defense markets. Last month, Synchrony announced the assembly of its senior sales team to meet rising demand for these efficient and environmentally friendly products.

“Magnetic bearings improve efficiency and reliability while eliminating the need for lubricants that may harm the environment,” said Synchrony CEO & President Dr. Victor Iannello. “At a time when there is world attention on energy and the environment, Fusion® bearings now make it simple and economical to integrate magnetic bearings into rotating machinery. We are proud to be named an R&D 100 winner.”

Founded in 1993, Synchrony brings a spirit of engineering excellence, bold innovation and creativity to improving rotating machinery and power conversion systems. The company develops and delivers world-class products that maximize the ROI, energy savings, and environmental benefit of its customers’ machines. Synchrony is headquartered in Roanoke, Virginia.