GE Power Systems Acquires Two Honeywell Operations.Business Editors ATLANTA--(BUSINESS WIRE)--Dec. 17, 2001 Assets and Equipment acquired from Fuel Cell and Microturbine Operations GE announced today that it has acquired two operations and two sets of business assets from Honeywell In 1927, the Minneapolis Honeywell Regulator Company was formed as a merger of Alfred Butz' temperature control company (1885) and Mark Honeywell's water heater company (1906). In 1957, Honeywell, along with Ratheon, introduced one of the first computers in the U.S., the Datamatic 1000. . The two operations include the Honeywell Tensor tensor, in mathematics, quantity that depends linearly on several vector variables and that varies covariantly with respect to some variables and contravariantly with respect to others when the coordinate axes are rotated (see Cartesian coordinates). operation and Honeywell Advanced Composites, Inc. (HACI HACI Hope for African Children Initiative ). The two sets of business assets include the intellectual property and certain equipment used in Honeywell's Fuel Cell and Microturbine operations. The financial terms of the deal were not disclosed. Honeywell Tensor provides precise measuring tools Because human senses - like vision, hearing, touch, heat/cold receptors are subjective - which means that they are not very accurate nor reliable - science do not use them in measurements. Instead, measuring tools are used. for the petroleum exploration and underground utility boring industries and is well known for its systems and subsystems used for directional In one direction. Contrast with omnidirectional. surveying and navigation. The acquisition of this business adds to the GE Power Systems portfolio by bringing new products and services and creating a more integrated product platform for petroleum exploration and underground utility boring industries. HACI is a research and development organization with expertise in advanced high temperature, composite material composite material or composite, any material made from at least two discrete substances, such as concrete. Many materials are produced as composites, such as the fiberglass-reinforced plastics used for automobile bodies and boat hulls, but the systems and processes applicable to power turbine turbine, rotary engine that uses a continuous stream of fluid (gas or liquid) to turn a shaft that can drive machinery. A water, or hydraulic, turbine is used to drive electric generators in hydroelectric power stations. hot gas path components and other industrial applications. The Fuel Cell and Microturbine assets will be used to provide research and development expertise for fuel cell and microturbine power generation components. This acquisition provides GE Power Systems with excellent development capabilities in these important enabling technologies. "We're pleased that these four Honeywell operations are now part of our product and services line," said John Rice, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of GE Power Systems. "The synergies that exist between GE and these operations will provide a broader range of services and customer-driven solutions to the entire energy industry." The Tensor operation will become part of the Energy Services business of GE Power Systems, while the HACI operation and the Fuel Cell and Microturbine assets will become part of Power Generation Technology within the Energy Products business of GE Power Systems. 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. |
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