The Alstom plant in on Riverfront Parkway in downtown Chattanooga, Tenn., is seen Tuesday, Feb. 1., 2015.Energy production through the years
1888: James Casey and M.M. Hedges buys defunct iron company and form Casey-Hedges Co. in Chattanooga 1899: Patrick Walsh and Michael Weidner set up the Walsh-Weidner Co. to produce pressure vessels, tanks, fire tube and water tube boilers, 1928: Casey-Hedges and Wasl-Wiedner combine, are bought by the International Combustion Engineering Co. of New York and create Combustion Engineering Corp. 1990: Asea Brown Boveri (ABB) buys Combustion Engineering 2000: Alstom buys the boiler and fossil fuel businesses of ABB and Westinghouse Electric buys ABB’s nuclear business 2015: General Electric buys Alstom Power
General Electric Co. completed its $10.6 billion acquisition of the power and transmission division of French manufacturer Alstom on Monday, bringing a new corporate owner to one of Chattanooga’s biggest manufacturers.
Fairfield, Conn.-based GE said the closing on the sale comes after regulatory approvals from more than 20 countries and regions. The European Union approved the takeover in September after an eight-month investigation into whether it would distort the European market.
GE Power and Water division officials said they will take advantage of complementary strengths in technology and global capability, and also will be able to make purchases more efficiently.
Steve Bolze, who heads Power and Water, told reporters at division headquarters in Schenectady that GE will be poised to take advantage of the world’s growing energy needs.