GE Industrial Systems to Acquire EURO-DIESEL, A Leader In Rotary Uninterruptible Power Supply Systems PLAINVILLE, Conn.--(BUSINESS WIRE)--June 18, 2002--GE Industrial Systems, a division of the General Electric Company (NYSE:GE), has signed a definitive agreement with the SEGHERSgroup to purchase EURO-DIESEL, a leader in the design and manufacture of rotary Uninterruptible Power Supply (UPS) systems and other critical power products.
Expected to close in the third quarter of 2002 and subject to regulatory approval, the business will become part of GE Digital Energy, a global leader in delivering power quality products and services. Terms of the deal were not disclosed.
By acquiring EURO-DIESEL we are once again meeting our customers' demand for innovative, leading edge technologies that insure the business continuity by protecting the quality of power, said Lloyd G. Trotter, president and CEO of GE Industrial Systems. EURO-DIESEL supports our aggressive growth strategy, allowing us to offer an even more complete line of power quality products while strengthening our presence as a global leader.
Based near Liege, Belgium and serving customers throughout Europe and Asia, EURO-DIESEL engineers, manufactures and installs rotary UPS systems and other power quality equipment for mission critical applications such as computer networks, financial institutions, radar installations, hospitals, airports, and data and research centers. As part of the acquisition, GE will acquire the NO-BREAK KS (R) rotary UPS product family, a robust and reliable system that is comprised of a diesel engine, an electro-magnetic clutch, and the Stato-Alternator KS. The rotary UPS system is modular and scalable, allowing customers to protect critical loads not only from momentary power disturbances but also from extended duration outages.
GE Digital Energy continues to strengthen its portfolio of power quality products and services, said Jim Shepard, president of GE Digital Energy. With the acquisition of EURO-DIESEL's rotary UPS line, we continue to broaden the scope of secure power products to support the mission critical applications of our customers. About GE Industrial Systems GE Industrial Systems spans the globe as an industry leader in integrated industrial equipment, systems and services.
The business brings to customers the latest technological products used to distribute, protect and control electrical power and equipment, and provides innovative product and service solutions for commercial, industrial, residential and utility applications. For more information visit http://www.geindustrial.com.
About GE Digital Energy
GE Digital Energy is focused on delivering critical power solutions to the digital economy. As a single point of contact, GE Digital Energy designs, manufactures and delivers Uninterruptible Power Supplies (UPS) ranging from 500VA to 4MVA, and Advanced Power Systems(TM), ranging from 250KVA to 50MVA - all supported with a Global Services network that includes project assessment, installation, commissioning, preventive and corrective maintenance, and financial services. For more information visit http://www.gedigitalenergy.com.
About SEGHERSgroup
The SEGHERSgroup provides scientific and technological solutions in various areas of the environment and develops state-of-the-art systems for the safe treatment of solid waste, water, sludge, and flue gases with energy recuperation. EURO-DIESEL manufactures a wide range of high quality and high protection rotary UPS systems, switchgear, and control desks. The company's products include EUROSAFE(R), switchgear and SYNCHROSTA(R) UPS, a short-term UPS system providing protection from micro-cuts, voltage drops and voltage spikes. For more information visit http://www.seghersgroup.com.
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CONTACT: GE Industrial Systems, Plainville
Anne Witkavitch, 860/747-7461
or
GE Digital Energy
Gary Pacilio, 678/627-0930