MDR Subsidiary to Buy GE Unit

Babcock & Wilcox Power Generation Group – a subsidiary of energy-focused engineering and construction firm McDermott International Inc. (MDR - Analyst Report) – announced the purchase of an air and emissions unit from GE Energy, a division of General Electric Co. (GE - Analyst Report). No details were available on the financial terms of the transaction, which is expected to close following the satisfaction of customary closing conditions.
 
The GE Energy segment employs around 220 people in various locations in the U.S. and worldwide, who are scheduled to become part of Babcock & Wilcox in the coming months.
 
The acquisition include GE Energy’s electrostatic precipitator and emissions monitoring business units, consisting of its electrostatic precipitator replacement parts and mechanical components product lines, electrostatic precipitator performance-enhancing hardware and controls, continuous emissions monitoring systems, data acquisition and handling system, plus the electrostatic precipitator and emissions monitoring remote diagnostics and services capabilities.
 
These offerings serve a wide spectrum of power generation and industrial clients, helping them to monitor and control particulates and other emissions from power plants, factories and other facilities. As such, the GE Energy assets are expected to be a valuable addition to Babcock & Wilcox’s strategic growth plan and strengthen its already formidable environmental equipment and services offerings.
 
Incorporated in 1959, Houston, Texas-based McDermott International Inc. provides a diverse range of products and services to customers in the energy and power industries, including utilities and other power generators, major and national oil companies, and the U.S. Government.

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