GE to buy gas turbine engine maker Metem Corp.

GE Wells Fargo Acquisition

GE signed a purchase agreement to buy Metem Corp., a U.S.-based provider of cooling hole manufacturing technologies that enable gas turbine engines to function more efficiently, saving costs, increasing operation time and reducing emissions.

Heavy-duty gas turbines are subject to very high temperatures during operations, making metals weaker. With heavy-duty gas turbine blades operating under high temperatures and experiencing centrifugal stresses, turbine blade cooling is an important component of GE’s next generation of advanced gas turbines.

To realize supply chain efficiencies and reduce costs, GE made the decision to bring cooling hole-drilling capability in-house by acquiring Metem.

GE and Metem have had a very strong relationship since the 1970s, driven by Metem’s record of innovation and technology development and the strength of its workforce. As a result, GE is Metem’s largest customer.

This acquisition is strategic for GE Power, as demand for advanced manufacturing technologies increases as products evolve. GE envisions building out the capabilities and capacity of the Metem network.

Until the transaction closes, the two companies will continue to operate as separate businesses, and Metem will continue to be managed by the existing leadership team. GE and Metem expect the deal to close in the first quarter of 2016.

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