With a $5.3B buyout of the remaining 50% of Prolec, GE Vernova now fully controls one of the biggest transformer manufacturers in North America. (Bloomberg)
The deal ends a decades-long joint venture with Mexico’s Xignux and lifts a non-compete that had limited GE’s ability to sell transformers in the US.
Prolec brings 10K employees, seven factories (five in the US), and a growing backlog of demand from hyperscalers and utilities.
GE Vernova CEO Scott Strazik says the acquisition checks every box: domestic investment, grid manufacturing, and data center supply chain dominance.