Reimelt Named Head of GE Power Conversion
Stephan Reimelt has been appointed as president and CEO of GE’s Power Conversion business, succeeding Joe Mastrangelo who becomes president and CEO of Power Generation Products for GE Power & Water, GE Energy Management president and CEO Mark Begor announced today. Power Conversion is at the heart of generating cleaner and more efficient power for multiple industries. Ge said it is a growing business, operating in 160 locations worldwide, with more than 7,000 employees. Under Mastrangelo’s leadership the backlog grew more than 70 percent in four years to reach $3.5 billion…
MHI, Siemens Outline Alstom Proposal
Mitsubishi Heavy Industries (MHI) and Siemens submitted an offer letter specifying further the proposed transaction to Alstom. With the specified offer MHI and Siemens reaffirm their commitment to strengthen Alstom as an independent Global Player in Energy and Transport. After extensive discussions with all stakeholders over the past days MHI and Siemens reviewed their proposal with regards to reducing complexity, strengthening execution and narrowing risk exposure. Based on this, MHI and Siemens decided to further simplify the structure of the proposal for the benefit of all parties involved.
Siemens, Mitsubishi Challenge GE with Alstom Offer
Germany's Siemens and Japan's Mitsubishi Heavy Industries presented a joint offer to France's Alstom on Monday that included 7 billion euros ($9.5 billion) in cash, challenging a bid by General Electric. Under the deal, Siemens offered to buy Alstom's gas turbines business for 3.9 billion euros in cash, and MHI to buy stakes in Alstom power assets including hydroelectric power equipment and grid, to be held in separate joint ventures. MHI would inject 3.1 billion euros in cash into Alstom and offer to take a stake of up to 10 percent in the French firm from shareholder Bouygues.
GE in talks to buy Alstom's global power arm-sources
General Electric is in talks with Alstom to take over its global power business and a deal could be announced in the coming days, two sources familiar with the matter said on Friday. No price tag was given for the deal, which could be announced in the coming days, according to the sources. The power business accounts for nearly three quarters of Alstom's 20.3 billion euro revenue. One of the sources said the approach was initiated by Alstom and that its top shareholder Bouygues - which has a 29 percent stake - backed the proposed deal. Alstom declined to comment.
Buyout Groups Bid for GEA Heat Exchangers Unit
Two buyout groups have made final offers for the heat exchangers division of German industrial machinery and process engineering group GEA , one of which could be picked for exclusive talks within days, three people familiar with the matter said. EQT, which is working with industrial services group Bilfinger, and private equity investor Triton handed in bids valuing the unit at about 1.2-1.3 billion euros ($1.65-$1.8 billion) by a Friday deadline, the people said. "However, the…
First GL Approved Oil Mist Separator
UT99 AG, a company in the development and manufacture of oil mist separators for crankcase ventilation of combustion engines and for lubricating oil tank vent for turbines, received Germanischer Lloyd (GL) approval for its oil mist separator. "The world's first class admission of Germanischer Lloyd for a secure oil mist separator is the systematic continuation of our philosophy," explains Lukas Riedo, Managing Director of UT99 AG. Environmental and safety requirements are getting higher in the marine and offshore sectors…
GE Upgrades Royal Fleet Auxiliary’s Fleet Tankers
GE’s Power Conversion (NYSE: GE) business has started fitting the latest generation of Integrated Platform Management System (IPMS) to the Royal Fleet Auxiliary (RFA) ships Wave Knight and Wave Ruler. The technology is designed extend the life and versatility of the IPMS fitted to the two ships, helping the RFA to maintain at-sea supply capabilities in supporting the Royal Navy’s global maritime operations. The IPMS includes machinery control and surveillance, damage surveillance and control, electrical power control and management and Replenishment at Sea (RAS) functions.
Rolls-Royce to Sell Tidal Generation Ltd to Alstom
The sale is expected to complete within the next few months, subject to closing conditions. About Tidal Generation Ltd. 1. Rolls-Royce will sell TGL to Alstom UK Holdings Ltd, a wholly owned subsidiary of Alstom. 2. TGL is a wholly owned subsidiary of Rolls-Royce Holdings plc that is managed and reported in the Energy business segment. 3. In September 2010 TGL’s 500kWe tidal stream turbine concept demonstrator unit was deployed at the European Marine Energy Centre’s (EMEC) offshore test site…
MPro Profile: Brian Pope, L-3 Communications/Marine & Power Systems Group
If Brian Pope is not the obvious choice to be Maritime Professional magazine’s first ever featured maritime professional, then perhaps the notion of who and what we consider to be important on the waterfront should be rethought. As a perfect example, Pope’s influence on electrical propulsion and the development of electrical systems afloat has been nothing short of profound. And, while the typical ship’s engineer might not know his name, Pope’s work will likely impact how ships move through the water for generations to come.