GE Mining announced that it had finalised the purchase of mining equipment manufacturer, Industrea Ltd. The $700 million transaction, which includes equipment manufacturing and servicing operations in Australia and China, allows GE Mining to expand its product and service offering to bring more efficient, high productivity, and low emission equipment to its mining customers globally.
Industrea Ltd is a provider of safety and productivity-enhancing mining equipment, with more than 700 employees across seven Australian locations, and a significant presence in China. It will form part of the global GE Mining business, headquartered in Brisbane.
GE Transportation President and CEO, Lorenzo Simonelli said: “GE has been helping Mining customers solve their challenges for over 50 years with heavy-haul locomotives, off-grid power generation, water treatment and a suite of industrial solutions. Australia is a natural home for the global headquarters of GE Mining because of the local expertise and proximity to the industrial-growth customers of resource-rich nations."
Read the press release here.