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The boom in North American oil and gas continues for industrial giants. This morning, German industrial conglomerate Siemens AG (OTC: SIEGY) announced plans to purchase oilfield equipment manufacturer Dresser-Rand Group Inc. (NYSE: DRC). The $7.6 billion deal will allow it to shift its presence in the United States. Siemens beat Swiss pump maker Sulzer AG in a bidding war for the equipment firm. Shares of Dresser-Rand rose more than 9% on the news.