GE Power Systems Signs an Agreement to Acquire Bently Nevada Corp.Business Editors & Energy Writers ATLANTA--(BUSINESS WIRE)--Nov. 30, 2001 GE Power Systems (NYSE NYSE See: New York Stock Exchange : GE) announced today that it has signed a definitive agreement to acquire 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 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 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. . 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 diagnostic services, n.pl the imaging and laboratory capabilities available for determining the cause of an illness. ," 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 culture will complement GE's existing product offering providing a more complete service solution for our customers. Bently Nevada is a customer oriented o·ri·ent n. 1. Orient The countries of Asia, especially of eastern Asia. 2. a. The luster characteristic of a pearl of high quality. b. A pearl having exceptional luster. 3. and quality driven company and we are excited about bringing these talented employees into the GE family." Headquartered in Minden, Nevada Minden is a census-designated place (CDP) in Douglas County, Nevada, United States. The population was 2,836 at the 2000 census. It is the county seat of Douglas CountyGR6. 2005 estimates place the population of Minden, Nevada at 2,983 [1]. , 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. |
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