GE acquires Transfield Services' interest in TGE Energy Services
GE’s commitment to mining, power and rail customers to be extended by the agreed acquisition of Transfield Services' interest in TGE Energy Services
The inclusion of 100% of TGE Energy Services in the GE Energy portfolio will:
Demonstrate GE’s commitment to its Australian business and its customer service mandate
Further localise the total GE business supporting Western Australia and the east coast
Continue to provide lifecycle support of GE equipment for the growing mining, power and transportation industries
Perth and Sydney, Australia, 17 May 2011: GE (NSYE:GE) announced today that its commitment to the local mining, power and transportation industry customers will be extended by the acquisition of Transfield Services' interest in the services business that supports GE Energy products in Australia; an acquisition which will allow for rapid response and local support that will grow with the customers’ businesses.
GE has signed an agreement with Transfield Services to acquire Transfield Services’ 49% interest in their partnership, TGE Energy Services.
Tim Rourke, CEO, GE Energy Australia and New Zealand said that the full ownership of the services business will demonstrate GE’s customer commitment.
“This acquisition will strengthen GE’s support of the extraordinary growth we are seeing in Western Australia and on the east coast, particularly of our mining and power industry customers.
“Having the service business completely within the GE family allows us to offer customers a more dedicated, local and reliable product lifecycle support, which will grow with their business,” Mr Rourke said.
The services previously provided by TGE Energy Services will continue seamlessly with all 159 staff of the business continuing to work from their current location.
“GE Energy is committed to maintaining this key business with no disruption to customers. The full GE Energy product and service lifecycle support extended to our Oil & Gas and Power & Water customers will continue, as will the access to the knowledge of over 6000 GE engineers globally,” Mr Rourke said.
TGE Energy Services was established as a partnership between Transfield Services and GE Energy. It has workshops in Perth, Bunbury and Sydney and specialises in the maintenance of gas hydro and steam turbines; as well as high-voltage generators, transformers and motors for use in the mining, rail and power industries.
The Perth workshop is capable of manufacturing high-voltage coil and generator bars and is the only GE-licensed gas turbine repair facility in Australia and New Zealand.
Following on from GE’s announcement in March that it plans to develop an $80 million custom-built state-of-the-art technology and learning complex at Jandakot Airport in Perth, this acquisition further demonstrates that GE is dedicated to meeting the needs of the resources sector in Australia and fuelling Australia’s economic growth.
The acquisition will make GE Energy the sole owner of the TGE Energy Services business. It is expected to be completed on 24 May 2011.
The inclusion of 100% of TGE Energy Services in the GE Energy portfolio will:
Demonstrate GE’s commitment to its Australian business and its customer service mandate
Further localise the total GE business supporting Western Australia and the east coast
Continue to provide lifecycle support of GE equipment for the growing mining, power and transportation industries
Perth and Sydney, Australia, 17 May 2011: GE (NSYE:GE) announced today that its commitment to the local mining, power and transportation industry customers will be extended by the acquisition of Transfield Services' interest in the services business that supports GE Energy products in Australia; an acquisition which will allow for rapid response and local support that will grow with the customers’ businesses.
GE has signed an agreement with Transfield Services to acquire Transfield Services’ 49% interest in their partnership, TGE Energy Services.
Tim Rourke, CEO, GE Energy Australia and New Zealand said that the full ownership of the services business will demonstrate GE’s customer commitment.
“This acquisition will strengthen GE’s support of the extraordinary growth we are seeing in Western Australia and on the east coast, particularly of our mining and power industry customers.
“Having the service business completely within the GE family allows us to offer customers a more dedicated, local and reliable product lifecycle support, which will grow with their business,” Mr Rourke said.
The services previously provided by TGE Energy Services will continue seamlessly with all 159 staff of the business continuing to work from their current location.
“GE Energy is committed to maintaining this key business with no disruption to customers. The full GE Energy product and service lifecycle support extended to our Oil & Gas and Power & Water customers will continue, as will the access to the knowledge of over 6000 GE engineers globally,” Mr Rourke said.
TGE Energy Services was established as a partnership between Transfield Services and GE Energy. It has workshops in Perth, Bunbury and Sydney and specialises in the maintenance of gas hydro and steam turbines; as well as high-voltage generators, transformers and motors for use in the mining, rail and power industries.
The Perth workshop is capable of manufacturing high-voltage coil and generator bars and is the only GE-licensed gas turbine repair facility in Australia and New Zealand.
Following on from GE’s announcement in March that it plans to develop an $80 million custom-built state-of-the-art technology and learning complex at Jandakot Airport in Perth, this acquisition further demonstrates that GE is dedicated to meeting the needs of the resources sector in Australia and fuelling Australia’s economic growth.
The acquisition will make GE Energy the sole owner of the TGE Energy Services business. It is expected to be completed on 24 May 2011.
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