SPX Corp. looking to sell power business lines
USA, North Carolina: SPX Corp. plans to sell its European power generation operations as weak segments of its power business continue to undermine strong performance in its other business divisions.
#power business
ABB lowers targets, downsizes and regroups its power business
ABB has announced major reorganization of the company business into four divisions, with its entire power business grouped into a new Power Grids division. While the new strategy sets lower targets and implies further job cuts, the new management comes under pressure from shareholders to meet the set expectations.
GE wins EU approval for its $14 billion Alstom deal
Belgium, Brussels: General Electric has won EU approval for its €12.4 billion ($13.9 billion) acquisition of Alstom’s power business after agreeing to sell some of the French company’s turbine assets to Italian rival Ansaldo Energia.
GE attempts to win French support by altering Alstom bid
France, Levallois-Perret: General Electric (GE) announced a revised $ 13.5 billion bid for the Alstom energy business aimed at the French government.