GE has signed a contract to acquire Dresser Inc, the parent company of fuel dispenser manufacturer Dresser Wayne. Texas-based Dresser Wayne is one of the largest business units of Dresser Inc and a global leader in the design, manufacture and servicing of fuelling forecourt solutions, including dispensers, payment platforms and wet stock control systems.

The US$3bn deal is subject to customary closing conditions and is expected to close promptly after receiving regulatory approval.