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| News Releases · Local Version |
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GE Power Systems Signs an Agreement to Acquire Bently Nevada Corp. |
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ATLANTA, 30 NOVEMBER 2001 - GE Power Systems (NYSE: GE) announced today that it has signed a definitive agreement to acquire Bently Nevada Corporation, a global leader in machinery protection and management solutions. This transaction, which is subject to antitrust approval, is expected to close in January 2002. Bently Nevada is the recognized leader in rotor dynamics. The acquisition of Bently Nevada will provide customers with an integrated product and solutions platform in machine monitoring and diagnostics. The company's products encompass Plant Asset Management systems including vibration monitoring, machinery protection, software and engineering services. "The acquisition of Bently Nevada will expand GE's capabilities in monitoring and diagnostic services," said John Rice, president and CEO of GE Power Systems. "Bently Nevada's strong technology and engineering culture will complement GE's existing product offering providing a more complete service solution for our customers. Bently Nevada is a customer oriented and quality driven company and we are excited about bringing these talented employees into the GE family." Headquartered in Minden, Nevada, Bently Nevada is a global company with over 2100 employees worldwide and a presence in 43 countries. "The synergies created by this transaction will deliver greater value to Bently Nevada and GE customers worldwide," said Don Bently, chairman and CEO of Bently Nevada. About GE Power Systems GE Power Systems (www.gepower.com) is one of the world's leading suppliers of power generation technology, energy services and management systems with 2000 revenue of $15 billion. The business has the largest installed base of power generation equipment in the global energy industry. GE Power Systems provides equipment, service and management solutions across the power generation, oil and gas, distributed power and energy rental industries. Contact: Dennis Murphy GE Power Systems 770-859-6948 dennis.murphy@ps.ge.com About Bently Nevada Corporation Bently Nevada Corporation is the world's leading supplier of machinery protection and management solutions, and maintains nearly 100 sales and service offices in the principal industrial centers of 43 countries around the globe. It provides a comprehensive scope of products encompassing vibration monitoring instrumentation, software, advanced bearing designs, engineering services, lubrication condition monitoring, and fundamental rotor dynamic research all with a common objective: helping customers protect and manage their machinery and other plant production assets. Contact: Steve Sabin Bently Nevada Corporation 775-782-3611 steve.sabin@bently.com |
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