Metem: GE closes acquisition of New Jersey company to cut turbine costs

General Electric has completed its acquisition of the New Jersey company Metem Corp., which was first announced last year. The deal will help GE lower costs and boost competitiveness in its turbine business, based in Schenectady, New York. The Metem acquisition comes as GE (NYSE: GE) looks to cut $1 billion a year from its supply chain. Terms of the sale were not disclosed. "Gas turbines coupled with services are the core of GE Power, and Metem's acquisition will help achieve synergies by...