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According to the Wall Street Journal, GE is about to sell its industrial gas engine business to private equity firm Advent International
for $3 billion or more.
GE is about to sell its industrial gas engine business for $3 billion
The agreement
could be announced on June 25.
The divestment of the industrial gas engine business, which includes Jenbacher and Waukesha engines, will help streamline GE's power division
.
The unit lost 45 percent
in profits last year due to a sharp drop in power plant and service sales.
The business unit manufactures gas turbines weighing several tons, generating on-site electricity to keep industrial plants running
.
The Jenbacher and Waukesha engines cover the small to mid-sized segments of General Electric's electric business, ranging from 100 kilowatts to 10 megawatts
.
As of now, neither GE nor Advent has been immediately available for comment
.
，
According to the Wall Street Journal, GE is about to sell its industrial gas engine business to private equity firm Advent International
for $3 billion or more.
GE is about to sell its industrial gas engine business for $3 billion
GE is about to sell its industrial gas engine business for $3 billionThe agreement
could be announced on June 25.
The divestment of the industrial gas engine business, which includes Jenbacher and Waukesha engines, will help streamline GE's power division
.
The unit lost 45 percent
in profits last year due to a sharp drop in power plant and service sales.
The business unit manufactures gas turbines weighing several tons, generating on-site electricity to keep industrial plants running
.
The Jenbacher and Waukesha engines cover the small to mid-sized segments of General Electric's electric business, ranging from 100 kilowatts to 10 megawatts
.
As of now, neither GE nor Advent has been immediately available for comment
.
，
