GE Expands European Presence with Artesis Teknoloji Sistemleri Agreement
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Press release date: September 29, 2010
ISTANBUL, TURKEY - September 29, 2010 - GE (NYSE: GE) is further expanding its presence in Europe with an agreement with Artesis Teknologi Sistemleri, a predictive maintenance technology manufacturer headquartered in Istanbul, Turkey. Under this agreement, GE will acquire an equity share of the company, and Artesis will manufacture a range of GE's intelligent condition monitoring products designed to detect anomalies on various motor types, sizes and loads.
Artesis will introduce a new motor anomaly detection solution from GE's Bently Nevada product line known as AnomAlert. GE is committed to developing cleaner, smarter, more-efficient solutions to meet today's energy challenges, and the investment in Artesis will enable GE to serve customers more effectively with innovative solutions around the European region.
"Our agreement with GE is further evidence of the recognition of the contribution of our technology for improving the productivity and energy efficiency of industrial facilities. We are now in a better position to serve our customers all over the world," said Ahmet Duyar, founder and CEO of Artesis.
The AnomAlert products are used for monitoring and anomaly detection across multiple industries including the oil and gas, chemical and petrochemical, power generation metal processing, pulp and paper, water, cement, food and beverage, automotive, textile and maritime sectors.
"GE Energy has a strong track record in the Turkish energy industry with a fleet of gas, hydro, stream turbines and wind turbines which generates approximately 30 percent of all electricity in Turkey," said Mete Maltepe, country executive-Turkey for GE Energy. "This partnership agreement with Artesis further illustrates GE's commitment to the country and to ensuring we continue to deliver the best in innovation and technology to our customers."
For more information visit us at: http://www.gepower.com/prod_serv/products/oc/en/bently_nevada.htm
The Measurement & Control Solutions business within GE Energy Services is a leading innovator in advanced, sensor-based measurement, non-destructive testing, inspection and condition monitoring solutions, delivering accuracy, productivity and safety to a wide range of industries, including oil and gas, power generation, aerospace, transportation and healthcare. It has more than 40 facilities in 25 countries and is part of GE Energy Services, which provides cleaner, smarter, more-efficient solutions for its customers.
About Artesis Technology Systems
Artesis, founded in 1999, is an innovative company, which developed Artesis predictive maintenance technology by using model-based condition monitoring approach. Artesis products are used for condition monitoring of electric motors, motor driven machinery and generators. Artesis technology is commercially available through licensable applications, OEM sales and industrial products. Artesis products received the Editor's Choice Award, 40 Best Products of 2000, Control Engineering USA and "Technology Innovation Award 2007" for simplifying predictive maintenance, The Institution of Engineering, United Kingdom. Artesis has a robust intellectual property portfolio of issued and pending patents with broad foreign coverage. www.artesis.com
GE (NYSE: GE) is a diversified infrastructure, finance and media company taking on the world's toughest challenges. From aircraft engines and power generation to financial services, health care solutions and television programming, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's website at www.ge.com.
GE serves the energy sector by developing and deploying technology that helps make efficient use of natural resources. With nearly 85,000 global employees and 2009 revenues of $37 billion, GE Energy www.ge.com/energy is one of the world's leading suppliers of power generation and energy delivery technologies. The businesses that comprise GE Energy-GE Power & Water, GE Energy Services and GE Oil & Gas-work together to provide integrated product and service solutions in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; and other alternative fuels.
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