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GE Vernova has signed a definitive agreement to acquire the heavy-duty gas turbine combustion parts business of Greenville, South Carolina based Woodward. This move is a strategic step to help enhance its US manufacturing capabilities and reinforce its domestic energy supply chain.
Key Details of the Agreement
The acquisition includes all assets related to Woodward’s Greenville operations, which primarily supply parts and services to GE Vernova’s gas turbine manufacturing.
GE Vernova has had a presence in Greenville for over 50 years with businesses, such as gas turbine manufacturing, testing, and global engineering support.
The transaction is expected to close in early 2025, pending customary closing conditions.
Strategic Benefits for GE Vernova
Addresses the growing demand for heavy-duty gas turbines and upgrades in the global energy market.
Enhances GE Vernova’s ability to support US electrification needs.
Strengthens its commitment to investing in US jobs and manufacturing infrastructure.
Woodward views this transaction as an opportunity to focus resources on high-value products, while ensuring the continued success of its Greenville team under GE Vernova’s ownership.
GE Vernova and Woodward are collaborating to ensure a smooth transition for employees, with efforts focused on maintaining operational continuity.
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