GE to Acquire Majority Interest in Indian Flowmeter Company
GE will acquire a majority stake in Advanced Systek, Indian suppliers of terminal automation systems and flowmetering solutions.
Terms of the transaction were not disclosed, however, GE says the acquisition is intended to enhance GE’s ability to serve customers in South Asia and the Middle East regions.
Advanced Systek supplies midstream and upstream oil and gas industry customers with terminal management and flowmetering solutions, including design, engineering, supply, installation, commissioning, and maintenance.
With this acquisition, GE says Advanced Systek’s capabilities combined with GE technology and product portfolio of flowmeters, control valves, UPS, controllers and instrumentation, will enable the GE Oil & Gas business to broaden its offerings for the industry.
Advanced Systek is headquartered and houses its manufacturing facility in Vadodara. Under terms of the transaction, the senior management team of Advanced Systek will continue to serve as directors.
