International technology group Andritz and General Electric Company (GE) have reached an agreement for the purchase of certain assets of GE Energy's Hydro business. The closing of the transaction, which is subject to approval by anti-trust authorities, is expected to take place during the next few months. Financial terms were not disclosed. As part of the transaction, Andritz will acquire GE Energy's hydro power technology and certain other assets, including engineering and project management resources, research and development capabilities, and specialized generator component production facilities in Canada. These activities have a total staff of approximately 200 employees.
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