October 08, 2008

Andritz buys hydro assets from GE

The Engineer Online reported that General Electric has agreed to sell some of its Energy’s hydro business to Austrian technology group Andritz. Financial details of the transaction, which is subject to approval by anti trust authorities, were not disclosed.

As part of the agreement, Andritz will acquire GE Energy’s hydropower technology and assets such as engineering and project management resources, research and development capabilities and specialized generator component production sites in Canada.

According to Andritz, the acquisition will further complement its existing product portfolio in the field of large Francis type turbines and generators with output capacity of at least 400MW. In addition to its work in the hydropower market, Andritz specializes in the supply of customized plants, systems and services for the pulp and paper industry and the steel industry.