GE Power Systems Completes Acquisition of Bently Nevada.Business Editors ATLANTA--(BUSINESS WIRE)--Jan. 24, 2002 GE Power Systems (NYSE NYSE See: New York Stock Exchange :GE) announced today it has completed the acquisition of Bently Nevada Bently Nevadais a name long associated with condition monitoring instrumentation and services, most notably sensors, systems, and diagnostic services for monitoring machinery vibration. Corporation, a global leader in machinery monitoring and diagnostics (1) Software routines that test hardware components (memory, keyboard, disks, etc.). Diagnostics are often stored in ROM chips and activated on startup. (2) Error messages in a programmer's source code that refer to statements or syntax that the compiler or assembler . GE initially announced its intent to acquire the electronics manufacturer in November November: see month. . No financial terms of the agreement were disclosed. Since its founding in 1961, Bently Nevada has grown to 2,100 employees worldwide, with projected sales of nearly $235 million last year. Headquartered in Minden, Nev., the company is northern Nevada's largest manufacturing employer outside of the gaming industry. Recognized as a worldwide leader in rotor dynamics Rotorcraft dynamics and design is a subtle subject as it involves challenging issues in aerodynamics and mechanics. The rotor is the most complex and most important part of a helicopter. This is why it has been extensively studied during the last twenty years. , Bently Nevada's products encompass Plant Asset Management systems including vibration monitoring, machinery protection, software and engineering services. "With the addition of Bently Nevada, we will be able to provide an even more comprehensive portfolio of products and services to meet our customers' power needs," 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. "Bently Nevada's strong technology and engineering resources will provide us with an integrated products and solutions platform for machine monitoring and diagnostics." Both Bently Nevada and GE customers will benefit from the synergies created by the transaction, said Don Bently, founder, chairman and CEO of Bently Nevada. "It brings a new dimension of products and services into GE's growing 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. operations worldwide." 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 projected 2001 revenues exceeding $20 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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