GE Buys Honeywell Fuel Cell Assets

Deal also includes microturbine assets.

Published: 18-Dec-2001

ATLANTA, Dec 17 (Reuters) - General Electric Co. on Monday said its Power Systems segment acquired two businesses from Honeywell International Inc. along with two sets of intellectual property and equipment assets in a move that enhances its offerings in the fuel cell, turbine and petroleum exploration industries.

Terms of the deal were not disclosed, GE said.

GE Power Systems, which has shown dramatic growth this year and helped drive profit growth at GE, said it acquired the Honeywell Tensor operation and Honeywell Advanced Composites Inc., or HACI.

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