GE Vernova, Inc. announced that it signed a definitive agreement to acquire Woodward, Inc.’s heavy duty gas turbine combustion parts business based in Greenville, S.C. This transaction aligns with GE Vernova’s strategy of investing in U.S. manufacturing, jobs and its domestic supply chain.
Under the terms of the agreement, and subject to meeting all closing terms and conditions, GE Vernova is expected to acquire all assets related to Woodward, Inc.’s Greenville site, which is nearly entirely dedicated to supplying parts and services to GE Vernova’s gas turbine manufacturing operations.
While financial terms of the acquisition are not being made public, the transaction is expected to close in early 2025, subject to certain closing conditions. GE Vernova is working closely with the Woodward team to enable a smooth transition for employees in Greenville.