ge power

GE to sell Distributed Power business to Advent International for $3.25 billion

July 9, 2018 by Sam Francis

General Electric has signed an agreement to sell its Distributed Power business to Advent International, one of the largest and most experienced global private equity investors, for $3.25 billion.

The transaction includes Distributed Power’s Jenbacher and Waukesha engines, as well as manufacturing sites in Austria, Canada and the US.

Distributed Power, a business unit of GE Power, is a leading provider of reciprocating gas engines, power equipment and services focused on power generation and gas compression at or near the point of use. [Read more…] about GE to sell Distributed Power business to Advent International for $3.25 billion

General Electric to shed 12,000 jobs as electric future opens up

December 11, 2017 by David Edwards

General Electric’s recent decision to reduce its employee numbers by 12,000 globally indicate how important it thinks the trend of electric power will become, or perhaps has already become.

The significant job losses will come from the GE Power division. GE says the decision is part of its overall restructuring.

The company acknowledges that the growth in renewables is part of the reason for the cost-cutting measures. [Read more…] about General Electric to shed 12,000 jobs as electric future opens up