GE acquires Panametrics

07/26/2002


Atlanta, GA - GE Power Systems announced July 24 it has acquired Panametrics Inc., a manufacturer of ultrasonic testing equipment and process control instrumentation. The company will become part of GE's Energy Management Services business and will be known as GE Panametrics.

Panametrics develops highly specialized, harsh-environment sensors and instruments for nondestructive testing, solar radiation detection, and process measurement instrumentation. The company's products include process control instruments; moisture, chemical and gas sensors; multi-phase flow meters; charged particle detectors; ultrasonic transducers and scanning systems for a wide range of applications.

"Panametrics' proven testing and control technologies are an excellent fit with GE Power Systems' existing measurement technologies for the power generation and oil and gas industries. This acquisition will complement GE's portfolio of sensors and monitoring and detection offerings to better serve customers worldwide and will provide the platform for our field measurement solutions business," said John Rice, president and ceo of GE Power Systems.

Stephen R. Bolze, president and general manager of the Energy Management Services business, stated, "We are very excited to have the talented people, customer franchise, and expert technology of Panametrics as part of our GE family. This acquisition is consistent with our growth strategy to provide leading-edge sensor technology as part of our overall energy and distributed asset management solutions for improved customer productivity."

Tom Smith, previously general manager of GE's Field Services business, has been named general manager of GE Panametrics.

Panametrics is headquartered in Waltham, Mass. The company was founded in 1960 and has more than 1,000 employees.

"We are extremely pleased to be joining the GE family of businesses. This is a true marriage of technology-driven companies that will enhance our technical capabilities in the sensor and instrumentation industry," said Dr. Edmund H. Carnevale, co-chairman of Panametrics, Inc.


Control Engineering Daily News Desk
Gary A. Mintchell, senior editor
gmintchell@reedbusiness.com





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