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GE has announced that it has signed a purchase agreement to acquire Metem Corporation, a US-based provider of precision cooling hole manufacturing technologies for turbine blades. Until the transaction closes, the two companies will continue to operate as separate businesses, and Metem will continue to be managed by the existing leadership team. GE and Metem expect the deal to close in the first quarter of 2016.
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Mike Chanatry, Vice President of GE Power Systems Supply Chain, said: “Gas turbines coupled with services are the core of GE Power. Our acquisition of Alstom’s power business has significantly improved our competitiveness. In addition to adding to the GE Store capabilities, acquiring Metem will help achieve synergies by improving the overall cost base of products.”