General Electric Co. is acquiring two mining equipment manufacturers in Industrea Ltd. and Fairchild International, expecting accelerated growth in the industry.
In separate GE news,  Norwalk-based GE Capital resumed making dividends as expected, declaring a $475 million payment for the second quarter to its Fairfield-based parent. GE Capital had suspended dividends in 2009.
GE values the deal for Industrea at $700 million if approved by shareholders and regulators. GE did not reveal immediately what it is paying for Fairchild International.
Queensland, Australia-based Industrea has more than 700 employees who make mining vehicles, drill systems, and other hardened equipment, while offering contract-mining services. In the second half of 2011, Industrea earned $15 million on $173 million in revenue.
Glen Lyn, Va.-based Fairchild International is privately held and has 150 workers making scoops, haulage systems, and maintenance vehicles, among other coal mining needs.
