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GE $10 Billion Deal Opens Fight to Service Rivals' Turbines

  • Alstom energy assets may lead to $3 billion in savings by 2020
  • GE Capital enter talks to sell some operations to French bank
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General Electric Co. plans to use the $10 billion acquisition of Alstom SA’s energy assets as a way to muscle into the lucrative business of maintaining and repairing competitors’ turbines.

GE expects to reach deals in the next few months to service machinery from rival manufacturers, executives said Thursday on an investor call about the Alstom purchase. The new business takes direct aim at Siemens AG and other companies as GE looks to expand its power division, which already is the company’s largest unit.