The hottest KFD signed a merger agreement with Ge

2022-09-19
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Covid signed a merger agreement with Ge to create a leading global power conversion enterprise

covid announced today that it had signed an agreement with General Electric (GE), under which all shareholders of covid would resell their shares to ge. After the implementation of the agreement, only Pierre Bastid and Florent battistella will retain a considerable number of KFD shares

this agreement is signed based on the principle of vigorously expanding business. Its purpose is to quickly integrate KFD into the Ge Department of energy, and become an authority in the field of power conversion in the key period of innovation driven development

ambitious business expansion measures

mergers and acquisitions will enable KFD:

to significantly expand its global influence, establish an invincible position in today's key international market, and seize new business opportunities

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to obtain stronger investment capacity and super infrastructure, so as to successfully develop in the field of power conversion and enjoy a high-end customer base

expand business in key emerging markets such as China, India and Brazil

consolidate its industrial strength with superior project execution ability, cost advantage and excellent quality

based on the successful engineering technology group, the mixing of attapulgite and polymer can only be micron scale, which is the industrial benchmark

KFD's contribution to ge through mergers and acquisitions will enable ge:

to accelerate the electrification of all its systems and solutions, so as to develop more industrial solutions for GE customers

added value-added services to provide power conversion systems and solutions for rotating motors, transmission and automatic control capabilities

it has attracted a number of engineers who have recognized the technical ability of pallet devices and alarm devices and can serve customers all over the world

can consolidate its leading position in global technology, and strengthen its skills and professional expertise in system integration

KFD and GE Energy each have strong advantages and a wide range of international customer base. Mergers and acquisitions will enable both parties to:

have a convincing comprehensive ability to provide various integrated systems in key vertical industries, covering all links of the entire energy conversion chain: from energy production and static power conversion to energy quality and energy storage

with the advanced and sophisticated technologies in onshore, underwater and underwater compression, it provides a wide range of energy conversion solutions for the ever-changing needs of the oil and gas and offshore engineering industry

in the fast-growing market, seize the future growth opportunities in high potential fields such as energy conservation, renewable energy, especially wind and solar energy

with its engineering design ability to deeply grasp the production process of customers and then design solutions that fully meet their needs, it will continue to carry forward its excellent reputation in metal and mining industrial platforms and other industrial applications

give full play to its dominant position in the field of ships and serve all new and old users of civil, commercial and Navy

from preventive maintenance to safe implementation of modernization and upgrading, we provide a one-stop whole process service

Pierre Bastid, chairman and CEO of KFD, said: Ge is an ideal partner of KFD. Our advantageous position in the field of power conversion strongly complements GE's global leading position in the energy value chain. M & A will greatly strengthen KFD's grand strategy of promoting business globalization, strengthen its ability to serve the world, and create an industrial benchmark. It also helps to improve the competitive strength and scale of covid in international large-scale projects. We hope that this partnership will bring excellent choices to our customers and unique benefits to our employees

John Krenicki, vice chairman of Ge and President and CEO of GE Energy, said: efficient and all electric solutions are a general trend in the global energy field. Our customers in all key industries require more reliable, effective and flexible solutions to improve their competitiveness. Converteam's world-class staff and energy-efficient products and services complement many of our products, which will enable us to provide integrated solutions to customers

pierre Bastid also said: the glorious history of covid, the positive spirit of our team, as well as GE's extensive professional expertise in the industrial field and its boundless global scale will become a powerful catalyst for us to open a new chapter in the common future

KFD will quickly and smoothly integrate into GE Energy

KFD will continue to exist as an independent profit center and will become the authoritative center for power conversion of GE Energy. Its mission is very clear: to maintain a high standard of technological leadership, talent development and customer focus

ge has rich experience in merging and integrating successful enterprises in a mutually beneficial manner. GE has proved with facts that it can put the acquired enterprises at the center of its development strategy, including the mergers and acquisitions of Alstom heavy gas turbine company in France in 1999 and Nuovo Pignone company in Italy in 1994

in GE Energy, KFD's contribution will be directly reflected in the annual revenue growth of about 1.1 billion euros

conditions and schedule for the implementation of the agreement

this agreement is about the merger and acquisition of KFD by GE. Before the merger and acquisition, both parties should consult their respective staff representative offices

it is currently being submitted to the relevant national and European departments for approval, and the approval procedures are expected to be completed this summer

the consultants of KFD in this transaction are: Messier Maris et associ s and hawkpoint

about Corfu

Corfu group is a leading enterprise in the field of power conversion in the world. It has a history of more than 100 years. It has always been in a leading position in science and technology and innovation. It is a world-famous enterprise in the field of power conversion. It is committed to developing and providing solutions in Electromechanical, variable speed transmission, automation and process control. Its clients mainly include professional departments and six core markets: renewable energy, oil and gas and offshore oil and gas, power generation, shipbuilding, industry and services. KFD group has more than 5300 employees in 17 countries around the world and provides power conversion solutions to more than 80 countries around the world. In 2010, the annual sales reached 1.1 billion euros, and there were still 1.2 billion euros of orders at the end of the year

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