|August 4, 2014|
|05:17 EDT||GE||GE to invest $2B in Africa by 2018|
GE announced that it will invest $2B in facility development, skills training, and sustainability initiatives across Africa by 2018. Through partnerships and technology, GE is poised to help increase access, reliability, and affordability of core infrastructure throughout the continent. Africa has emerged as the most promising growth region for GE. Total GE revenues in Africa in 2013 were $5.2B and in the past year, GE has won more than $8.3B in orders across Africa. GE will focus its investment in Africa in three strategic areas: building infrastructure; delivering localized solutions to customers; and capacity building, by providing skills training and growing supply chain development in local communities. New GE commitments in Africa include: GE’s Distributed Power business will supply aeroderivative gas turbines in Algeria and Nigeria to increase grid reliability during peak power demands in Algeria and generate uninterrupted power at the Nigerian National Petroleum Corporation’s state oil refinery. GE committed to help bring online 5,000MW of new electric generation capacity in cooperation with the Initiative’s government and other private sector partners across six partner countries, including Nigeria. GE’s “Country-to-Company” agreement with the Government of Nigeria, which encourages the development of infrastructure projects and the transfer of skills and technology, will be renewed for another five years. GE will supply approximately $1B in railway and power equipment to Angola, under a bilateral agreement signed this week between the Export-Import Bank and Angola’s Ministry of Finance to finance infrastructure development projects in the country.
News For GE From The Last 14 Days
|February 25, 2015|
|05:22 EDT||GE||GE Healthcare selected as strategic partner by Kenyan Ministry of Health|
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|February 24, 2015|
|18:02 EDT||GE||General Electric director purchases $20M of company stock|
According to regulatory filings, GE director William G. Beattie purchased 800,000 shares of GE for $20,096,000 on February 18 and 19.
|February 23, 2015|
|12:07 EDT||GE||EU opens probe in GE's proposed acquisition of Alstom's energy business |
The European Commission has opened an in-depth investigation to assess whether General Electric's (GE) proposed acquisition of the Thermal Power, Renewable Power & Grid businesses of Alstom (ALSMY) is in line with the EU Merger Regulation. The Commission’s preliminary investigation indicates potential competition concerns in the market for heavy-duty gas turbines which are mainly used in gas-fired power plants. The transaction would bring together the activities of GE, the world's largest manufacturer of heavy-duty gas turbines, with those of Alstom, eliminating one of the three main global competitors to GE in this market. The opening of an in-depth inquiry does not prejudge the final result of the investigation. The Commission now has 90 working days, until 8 July, to take a final decision. Reference Link
|February 20, 2015|
|08:26 EDT||GE||Arc Logistics to acquire all membership interests Joliet Bulk for $216M |
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|February 18, 2015|
|11:14 EDT||GE||GE, Alstom deal likely to face intense EU scrutiny, Reuters says |
General Electric's (GE) deal for Alstom's (ALSMY) power equipment business is likely to face an intense EU antitrust investigation, says Reuters, citing people familiar with the matter. Reference Link
|07:07 EDT||GE||Barclays to hold a conference|
Industrial Select Conference is being held in Miami on February 18-19.
|February 15, 2015|
|15:42 EDT||GE||GE inaugurates new Indian manufacturing facility, Reuters says |
General Electric inaugurated its new manufacturing facility in India this weekend that the conglomerate will use as an export hub, with plans to send half of its output to the company's global factories, says Reuters. The new Indian facility will be a major part of GE's plan to win increased domestic orders there, added Reuters. Reference Link