GE Vernova to acquire Woodward’s heavy-duty gas turbine parts business

GE Vernova, Inc. has announced a definitive agreement to acquire Woodward, Inc.’s heavy-duty gas turbine combustion parts business in Greenville, South Carolina. 

The acquisition aligns with GE Vernova’s strategy to invest in U.S. manufacturing and strengthen its domestic supply chain to meet the growing global demand for heavy-duty gas turbines and upgrades.

Eric Gray, President & CEO of GE Vernova’s Gas Power business, emphasized the importance of integrating this capability to enhance domestic manufacturing and support the country’s electrification needs. The acquisition will also bring Woodward’s Greenville workforce into GE Vernova’s operations, which have been a key presence in the region for over 50 years.

Woodward’s Chairman and CEO, Chip Blankenship, highlighted the transaction as mutually beneficial, enabling Woodward to refocus resources while providing continued opportunities for its Greenville employees under GE Vernova’s ownership.

Although financial terms remain undisclosed, the transaction is expected to close in early 2025, pending necessary conditions.  

In recent developments, GE Vernova launched a High Voltage Direct Current (HVDC) Competence Center at its Electrification facility in Berlin to accelerate energy transition initiatives in Germany and Europe.

Photo: GE Vernova’s 7HA.03 Gas Turbine; Credit: GE Vernova