DRESSER &lt;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.
  

