GE Energy announced the successful completion of its $3.2 billion acquisition of Converteam, a provider of power conversion and automation systems and power electronics, motors and generators. Converteam states that its solutions enable customers in a variety of industries to replace or improve mechanical processes with high-efficiency electric alternatives that deliver better reliability, less maintenance and lower emissions. GE Energy states that the acquisition furthers its commitment to create a center of excellence for power conversion technology, which is designed to fuel strong growth opportunities for many of its businesses. Converteam’s addition is also said to complement GE Energy’s existing capabilities in energy conversion, industrial automation and process efficiency.
Converteam’s portfolio includes variable frequency drives and other power electronics, advanced motors and generators, as well as industrial automation and controls. Converteam’s products are said to be widely used in the renewable energy sector, turning intermittent and variable power from solar, wind and tidal sources into the high quality and reliable power required by grid operators throughout the world. As part of the growing trend of electrification in the oil and gas industry, its technologies are used to drive mission critical customer equipment in the production and transportation of hydrocarbons. Converteam also offers a broad range of automation and control systems that allow customers to optimize their production processes in the metals, mining and other industries.