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4-Traders Homepage  >  Equities  >  Nyse  >  General Electric Company    GE

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GE To Buy Mining Supplier Industrie For Almost $700 Million

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05/16/2012 | 02:25am CEST

General Electric Co. (>> General Electric Company) agreed to buy Australia-based mining-equipment maker Industrea Limited (>> Industrea Ltd.) for about A$700 million ($696.6 million), adding to its footprint in a fast-growing sector.

The industrial conglomerate also agreed to acquire privately held equipment maker Fairchild International, a U.S. mining supplier, for an undisclosed amount.

GE touted both acquisitions as a way to take advantage of growing mining in Australia, China and the U.S. The deals expand GE's breadth of product offerings to address about 35% of the underground mining value chain, the company said.

GE's shares were recently up 4 cents at $18.44 after hours. The stock has declined by about 7.5% over the past year.

-By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; [email protected]

Stocks mentioned in the article : General Electric Company, Industrea Ltd.
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Financials ($)
Sales 2017 126 B
EBIT 2017 16 486 M
Net income 2017 12 051 M
Debt 2017 66 674 M
Yield 2017 3,97%
P/E ratio 2017 18,31
P/E ratio 2018 15,08
EV / Sales 2017 2,20x
EV / Sales 2018 1,94x
Capitalization 211 B
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Number of Analysts 17
Average target price 28,6 $
Spread / Average Target 17%
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Managers
NameTitle
John L. Flannery Chief Executive Officer & Director
Jeffrey R. Immelt Chairman
Daniel Janki Treasurer & Senior VP-Global Operations
Jeffrey S. Bornstein Chief Financial Officer
Jim Fowler Chief Information Officer
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