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GE's Latest Power Acquisition is Another Reason to Buy the Stock

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On Tuesday, General Electric (GE - Get Report) announced it would be purchasing the heat recovery steam generator business from South Korea-based Doosan Engineering and Construction. GE will pay a reported $250 million.

The purchase coupled with a recent acquisition of Alstom will enable GE to offer full power plant solutions.

General Electric is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. See how Cramer rates the stock here. Want to be alerted before Cramer buys or sells GE? Learn more now.

Must Read: GE Energy Push Continues With $250M Doosan Deal

It also represents GE's latest efforts in its renewed commitment to its core industrial businesses -- power generation, transportation, infrastructure and defense. Over the past 18 months, the company has sold its financial services and consumer products divisions. The company's sharper focus is the latest reason that GE stock represents a good buying opportunity.

Due to increasing populations and economic globalization, demand for power is likely to increase. GE is setting itself up...


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