GEC Buys ALCO Engines —ALCO Power Is New Name
The General Electric Company Limited of London, England (GEC), which is not affiliated with the General Electric Co. of U.S.A., has announced that it completed the purchase of ALCO Engines, White Industrial Power, Inc., from White Motor Corporation of Cleveland, Ohio.
The new name for the 129-yearold American company will be ALCO Power Inc., with the base headquarters remaining in Auburn, N.Y.
David Powell, the managing director of GEC's Diesel Group, was elected ALCO's chairman of the board. Mr. Powell says the present operating management team will continue as before, with John Y. Sylvester III being the president.
Mr. Powell says: "The acquisition of ALCO is a major step in affording GEC an additional base from which its sales to worldwide markets can be expanded, and will secure for GEC a share of the substantial diesel engine market for North and South America." Mr. Sylvester says: "Under GEC's guidance, ALCO will continue to follow the same basic business policies and philosophies that have made ALCO the strong and viable company of long standing." GEC is financially strong and had sales over three billion dol- lars in 1976. ALCO's new parent manufactures diesel engines, gas turbines, turbochargers, switchgears, controls, rectifiers, traction equipment, computers, medical equipment, radios, televisions, kitchen appliances, telephone systems, etc.
ALCO manufactures mediumspeed, high-horsepower diesel engines which are used in a variety of applications, including marine, stationary and locomotives.