GE: acquires SPX Transformer Solutions for $645m
(CercleFinance.com) - GE-Prolec Transformers, a subsidiary of a 50/50 joint venture between GE and Xignux, a privately held company that is based in Mexico, today announced that it has completed the acquisition of the SPX Transformer Solutions business from SPX Corporation for 645 million dollars, subject to adjustments.
The acquisition of SPX Transformer Solutions, known for its transformers, services and components, will enable Prolec GE to serve the growing US market with a broader portfolio of innovative and sustainable power solutions, GE said.
Shared business values and complementary product and service offerings of Prolec GE and SPX Transformer Solutions will provide enable the venture to generate synergies.
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The acquisition of SPX Transformer Solutions, known for its transformers, services and components, will enable Prolec GE to serve the growing US market with a broader portfolio of innovative and sustainable power solutions, GE said.
Shared business values and complementary product and service offerings of Prolec GE and SPX Transformer Solutions will provide enable the venture to generate synergies.
Copyright (c) 2021 CercleFinance.com. All rights reserved.