General Electric Buys Honeywell Fuel Cell Assets

June 20, 1999 by Jeff Shepard

General Electric Co. (Fairfield, CT) announced that its power systems segment acquired two businesses from Honeywell International Inc. (Morristown, NJ) 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.

"The synergies that exist between GE and these operations will provide a broader range of services and customer-driven solutions to the entire energy industry," said John Rice, GE Power Systems' president and CEO.