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Kvaerner sells power assets

Kvaerner sells power assets

Kvaerner is to sell most of its thermal power activities, worth about $260m in sales, to GE. A deal with GE would mean the loss of 670 jobs, primarily in the UK where the company`s power projects and service divisions of Kvaerner Energy are located. In August, GE paid $70m to acquire Kvaerner`s hydropower activities.

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