GE Power Systems Completes Acquisition of Bently Nevada

GE Power Systems Completes Acquisition of Bently Nevada ATLANTA--(BUSINESS WIRE)--Jan. 24, 2002--GE Power Systems (NYSE:GE) announced today it has completed the acquisition of Bently Nevada Corporation, a global leader in machinery monitoring and diagnostics.

GE initially announced its intent to acquire the electronics manufacturer in November. No financial terms of the agreement were disclosed.

Since its founding in 1961, Bently Nevada has grown to 2,100 employees worldwide, with projected sales of nearly $235 million last year. Headquartered in Minden, Nev., the company is northern Nevada's largest manufacturing employer outside of the gaming industry.

Recognized as a worldwide leader in rotor dynamics, Bently Nevada's products encompass Plant Asset Management systems including vibration monitoring, machinery protection, software and engineering services.

With the addition of Bently Nevada, we will be able to provide an even more comprehensive portfolio of products and services to meet our customers' power needs, said John Rice, President and CEO of GE Power Systems. Bently Nevada's strong technology and engineering resources will provide us with an integrated products and solutions platform for machine monitoring and diagnostics.

Both Bently Nevada and GE customers will benefit from the synergies created by the transaction, said Don Bently, founder, chairman and CEO of Bently Nevada. It brings a new dimension of products and services into GE's growing turbine operations worldwide.

About GE Power Systems

GE Power Systems (www.gepower.com) is one of the world's leading suppliers of power generation technology, energy services and management systems with projected 2001 revenues exceeding $20 billion.

The business has the largest installed base of power generation equipment in the global energy industry. GE Power Systems provides equipment, service and management solutions across the power generation, oil and gas, distributed power and energy rental industries.

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