Wolong Acquires GE’s Small Industrial Motors
By CT2 Staff31 October 2018
Wolong Electric Group has officially completed its acquisition of GE’s mid- and low-voltage motor business, known as SIM. The US$160 million transactions became effective on June 30, 2018.
The acquisition includes the design, development, manufacturer, sales and other business of low-voltage and TEFC medium-voltage motors below 1750 hp (1305 kW). Assets include all of GE’s Industrial Motors Mexico Corp. and all of GE’s Motor Services Corp.
Wolong Electric America is the new legal entity post acquisition, with its headquarters in Houston, Texas, and a leadership team led by SIM employees. Wolong also signed a 10-year trademark license agreement with GE to sell Monterrey, Mexico-manufactured products under the brand “GE Industrial Motors, a Wolong company” to the United States.
Additionally, the acquisition expands GE SIM’s sales channels and its products to international markets in Europe and China, the company said.