General Electric Acquires 2 Companies
FAIRFIELD, Conn. (AP) ⿿ General Electric Co. said Wednesday that its mining business completed the acquisition of Fairchild International, which makes vehicles for underground mining use.
Terms of the deal were not disclosed.
The Glen Lyn, Va.-based company was renamed GE-Fairchild LLC. It will employ about 140 people and make a variety of underground mining equipment, including diesel and battery-powered scoops, continuous miners, haulage systems, shield haulers and maintenance vehicles, GE said.
GE said the acquisition will add underground equipment to its lineup of mining equipment products and expand its customer base to mining companies overseas.
Separately on Wednesday, GE said it bought Presens, a provider of pressure, temperature and flow measurement products based in Norway. The company employs 36 people. GE said that acquisition will boost its oil and gas business' presence in Norway and expand its core energy offerings. Financial terms of that deal also weren't disclosed. GE shares rose 4 cents to $20.79 in afternoon trading.Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
