CSIC Longjiang GH Gas Turbine to acquire gas turbine business from MAN Energy Solutions.

CSIC Longjiang GH Gas Turbine, a developer of small and medium-sized gas turbines in a 5 to 50 MW range as well as high performance and combustion technologies, agreed to acquire gas turbine business from MAN Energy Solutions, a producer of industrial grade engines. Financial terms were not disclosed. "The acquisition of the MAN ES gas turbine business is based on the major decision made by GHGT for advanced technology and globalization strategy, which is in line with China's and even the world's "Carbon Peak & Carbon Neutrality" strategy for the development of energy equipment. GHGT has been focusing on the research and development of small and medium-sized gas turbine products and related cutting-edge technologies. Through this acquisition, it will accelerate the construction of our product spectrum and global supply chain and help GHGT to become a world-class small and medium-sized gas turbine enterprise. We are fully aware that the teams from Oberhausen, Germany and Zürich, Switzerland are one of the important forces to achieve the strategic goals. Therefore, we will make a series of efforts, starting from the establishment of a corporate culture of mutual trust and mutual integration, to create a highly reliable and more professional development platform for all foreign transferred employees,” Lin Feng, GHGT Board Chairman.