GE Digs Into Underground Mining With 2 Equipment Cos.

Law360, New York (May 16, 2012, 1:04 PM EDT) -- By the end of the year, General Electric Co. will have closed deals for two underground mining equipment manufacturers in an effort to take a bite out of the $61 billion global mining equipment industry, GE said Tuesday.

In a roughly $700 million deal, GE's transportation division will buy Australia-based Industrea Ltd., pending shareholder and regulatory approval. Separately, the conglomerate will pay an undisclosed amount for Fairchild International, a privately held company based in Glen Lyn, Va.

Both deals, expected to close in the second half...
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