DRESSER <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.