SINCE THE FLOODED PLANT IS IN THE STATE OF NY AND "NOT" KANSAS, MAYBE THIS IS THE PROBLEM, THEY DON'T KNOW WHERE THE HECK THEIR OPERATIONS ARE OR MAYBE ITS JUST TOO MUCH FRENCH WINE WHILE THE CEO AND HIS FRENCH WIFE CELEBRATE THE FACT STOCK HOLDERS ARE PAYING FOR THE UPSCALE LIFE IN PARIS AND THE NO COST TO THEM FOR THE MOVE BACK TO HER HOME COUNTRY. GOT TO LOVE IT ......... May 20 (Reuters) - Oil services company Dresser-Rand Group Inc said operations at its Wellsville plant in Kansas have been hit by flooding of a nearby creek, and it expects a dent in second-quarter income.
Dresser-Rand, which makes equipment for the oil and gas industry, expects its second-quarter operating income to be reduced by $12-$15 million.
I have a close relative in the upper ranks of this company. Plant in New York will off line for another 2 weeks minimum. As the press is reporting -- DRC will take a 12 - 15 million dollar hit. They have a 2 million dollar deductible on their insurance. Good news is orders are up 50% from same time last year and double over time is being prepared for employees once they are cleaned up.
Loss for the QT. will be LARGE ....... New orders are a good sign, but unless on time delivery improves and the Supply Chain Upper management is put out to pasture customers will, at some point, look elsewhere ..........