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Equipment Management provides full-service equipment financing and operating leases to customers around the world. With more than $26 billion of assets in 26 countries, Equipment Management helps customers finance and manage their fleets of autos, trucks, trailers, railcars and modular space units. In a weak 2002 economy, Equipment Management partially offset the impact of lower asset demand through cost reductions, trimming under-utilized assets and continuing process improvements, with contributions from acquisitions as well. In 2003, Equipment Management will continue to drive these strategies to build a high-return portfolio. Key to this effort is world-class asset management and the continued pursuit of operational excellence through Six Sigma. In addition, Equipment Management is expanding its service offerings and launching several new high-technology products as part of its core growth strategy. These actions, and a commitment to partner with customers to solve their productivity, financial and fleet-management challenges, will position Equipment Management for strong performance in 2003.
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Arthur H. Harper
President and CEO
GE Equipment Management
2002 TOTAL ASSETS: $26.1 billion
BREAKTHROUGHS
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1983 : Equipment Management
Railroad Cars: GE acquires railcar services firm NACC and begins expansion of equipment leasing business. 2002 Equipment Management revenues: $4.3 billion
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Very Useful