GE Acquires Panametrics

July 24, 2002

GE Power Systems announced that it has acquired Panametrics Inc., a global leader in high-technology ultrasonic testing equipment and process control instrumentation. The company will become part of GE's Energy Management Services business and will be known as GE Panametrics. Panametrics develops highly specialized, harsh-environment sensors and instruments for nondestructive testing, solar radiation detection and process measurement instrumentation. The company's products include process control instruments; moisture, chemical and gas sensors; multi-phase flow meters; charged particle detectors; ultrasonic transducers and scanning systems for a wide range of applications. "Panametrics' proven testing and control technologies are an excellent fit with GE Power Systems' existing measurement technologies for the power generation and oil and gas industries. This acquisition will complement GE's portfolio of sensors and monitoring and detection offerings to better serve customers worldwide and will provide the platform for our field measurement solutions business," said John Rice, president and CEO of GE Power Systems. Tom Smith, previously general manager of GE's Field Services business, has been named general manager of GE Panametrics. Throughout its more than 40-year history, Panametrics has been a pioneer in the sensor technology industry, developing an extensive line of ultrasonic flowmeters including the first clamp-on ultrasonic flowmeter for gases. Panametrics moisture analyzers have been considered the industry standard for decades. Other company breakthroughs include the first digital flaw detector and a unique line of hand-held digital data-logging thickness gages. The company's innovative culture has resulted in almost 100 patents.

GE Acquires Panametrics

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