May 15th, 2012 by InvestorPoint

GE (NYSE: GE) announced today that it is pursuing acquisitions of two underground mining equipment manufacturers in support of the global expansion of its mining business. GE has entered into an agreement to acquire 100 percent of Australia-based Industrea Limited (ASX: IDL, OTCQX: IULTY), a provider of safety and productivity-enhancing mining equipment and services. The transaction is valued at approximately A$700 million, which represents a 5.5x EBITDA multiple based on full-year financial data as o…continued
GE IULTY  ultrasound ecomagination Conglomerates