18/05/2011 - 09:29

GE buys power business

18/05/2011 - 09:29

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International conglomerate GE has bought out its Australian partner Transfield Services from their jointly owned business, Perth-based TGE Energy Services.

GE buys power business

International conglomerate GE has bought out its Australian partner Transfield Services from their jointly owned business, Perth-based TGE Energy Services.

Transfield had a 49 per cent interest in the business, which has workshops in Perth, Bunbury and Sydney and 159 staff.

TGE specialises in the maintenance of gas hydro and steam turbines, as well as high-voltage generators, transformers and motors for use in the mining, rail and power industries.

The Perth workshop is the only GE-licensed gas turbine repair facility in Australia and New Zealand.

The acquisition follows GE's announcement in March that it plans to develop an $80 million custom-built technology and learning complex at Jandakot Airport.

GE Energy Australia and New Zealand chief executive Tim Rourke said that full ownership of the services business would demonstrate GE's customer commitment.

"This acquisition will strengthen GE's support of the extraordinary growth we are seeing in Western Australia and on the east coast, particularly of our mining and power industry customers," Mr Rourke said.

"Having the service business completely within the GE family allows us to offer customers a more dedicated, local and reliable product lifecycle support, which will grow with their business."

 

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