ALSTOM completes sale of heavy duty gas turbine business to General Electric
Jun 25, 1999 02:00 AM
ALSTOM completed the sale to GE Power Systems of its GE-licensed heavy duty gas turbine business.
All regulatory approvals have been obtained and the deal has been formally closed for a net amount of $ 910 mm, as
announced on the 23rd March 1999.
The ALSTOM GE-licensed heavy duty gas turbine business has sales of approximately Euro 750 mm and employs about 2,500
people.
This operation is in line with ALSTOM's strategy to reposition its Energy activities and will be followed shortly by
the creation of ABB ALSTOM POWER.
Source: ALSTOM
