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Siemens, one of Europe's largest conglomerates, has agreed to purchase Dresser-Rand, a maker of compressors and turbines used in the transportation of natural gas and other hydrocarbons in shale plays through out the United States. Siemans will pay $7.6 billion in cash in an effort to compete with GE in the U.S. oil and gas energy business.

This transaction continues to demonstrate the importance of the shale revolution to the U.S. economy. It is not only landowners and drilling companies that are the beneficiaries. Equipment manufacturers, including those that are adapting their existing products to the new demand, are reaping rewards. As demonstrated by Siemens' investment, there is a lot off opportunity for the long term in the U.S. shale industry.

See this recent article from Reuters for more details.