Why did GE vernova invest $5 million in the Fierro service center?

Andoain, Spain: November 28, 2023 — GE Vernova's Gas Power business (NYSE:GE) announced today an expected investment of over $5 million in new technology and increased services capabilities at the Fierro Service Center in Andoian, Spain to meet the unique and growing need for services maintenance for aging gas power plants.

What assets does ferroatlántica own?

The assets owned by FerroAtlántica to be transferred in this transaction are ten hydroelectric power plants with a combined generating capacity of approximately 167 MW, and the Cee-Dumbría ferroalloys factory, all located in the province of A Coruña (Spain).

Will rising energy prices affect ferroglobe?

LONDON, Nov. 26, 2021 (GLOBE NEWSWIRE) -- Ferroglobe PLC (NASDAQ: GSM) (“Ferroglobe” or “the Company”), a leading producer of silicon metal, silicon-based alloys and manganese-based alloys, announced today that the Company has taken incremental actions to counter the impact of rising energy prices in Spain.

Why did ferroglobe buy ferroatlántica?

In return for this exclusivity, Ferroglobe commits to supplying FerroAtlántica with key raw materials over the long term. For the CEO of Ferroglobe, Pedro Larrea, “The sale of FerroAtlántica represents an important step in the execution of Ferroglobe’s near term strategy of streamlining our business and strengthening our balance sheet.

Why did ferroglobe divest 100% of ferroatlántica?

Company to divest 100% of subsidiary FerroAtlántica, S.A.U. the owner of ten hydroelectric facilities, with a combined capacity of 167 MW, and of the Cee-Dumbría ferroalloys plant. The transaction is a key milestone in Ferroglobe's strategy of divesting non-core assets to strengthen its balance sheet.

Who is ferroglobe plc?

Ferroglobe PLC is one of the world’s leading suppliers of silicon metal, silicon- and manganese- based specialty alloys and ferroalloys, serving a customer base across the globe in dynamic and fast-growing end markets, such as solar, electronics, automotive, consumer products, construction and energy. The Company is based in London.