DRESSER <DI> TO SELL UNIT TO ROSENKRANZ AND CO
Dresser Industries Inc said it signed a
definitive agreement to sell its Reliance Standard Life
Insurance Co to RSL Holding Co Inc., a subsidiary of the
privately-held, New York-based investment firm of Rosenkranz
and Co.
    Terms were not undisclosed. Philadelphia-based Reliance
earned 25.3 mln dlrs on sales of 201.6 mln dlrs in 1986.
    Dresser said it will use the proceeds from the sale for
stock repurchases, debt reduction, and possibly complementary
acquisitions in the field of engineered products and services
for energy producers.
 Reuter
