About GE in Australia & New Zealand

Who We Are

GE works on the things that matter to Australia and New Zealand; inventing and delivering great technologies, fostering economic growth and creating customer value. In Australia and New Zealand GE operates eight businesses: GE Capital, GE Lighting, GE Aviation, GE Healthcare, GE Transportation (& Mining), GE Energy Connections, GE Power and GE Oil & Gas.

Financials

In Australia & New Zealand, GE announced industrial revenues (excluding GE Capital) of $3.6 billion in 2012. The Australian Capital business reported a 2012 headline profit of $552 million and in New Zealand, Capital reported a headline profit of $145 million (excluding one-off items).

Presence

GE has operated in Australia since 1896, providing infrastructure for Brisbane’s tramway and the Pyrmont Bridge in Darling Harbour, which still operates today. GE Australia and New Zealand has almost 6,000 employees across more than 180 sites. GE’s global Mining business is headquartered in Brisbane, with the regional hub for GE Oil & Gas in Perth.

Investments

GE’s Skills Development Center in Jandakot, Perth, Western Australia provides critical training to employees, customers and stakeholders particularly within the resources industry. A twenty million dollar, five-year strategic alliance with CSIRO (Commonwealth Scientific and Industrial Research Organization) is currently running 11 research projects across multiple streams including aviation, healthcare and energy.

Business Overview

GE Healthcare

GE provides about 35 percent of Australia's MRIs, x-rays, mammograms, ultrasounds, clinical monitoring systems and digital imaging systems to healthcare providers in Australia. In May 2013, GE extended access to its innovative medical solution, Flutemetamol - that can assist in the early identification of Alzheimer’s disease, to clinicians in Perth.

GE Aviation

Every day, 70 percent of domestic flights are powered by GE jet engines. We help Qantas, Virgin and Jetstar fly thousands of people across Australia, as well as the world’s longest scheduled flight for Qantas from Sydney to Dallas-Fort Worth, Texas. Extending a 20 year relationship with Qantas, in 2012 GE announced a $2 billion LEAP-1A engine order for the A320neo aircraft, the largest in the history of GE Aviation Australia. GEnx jet engines will also power the country’s most environmentally friendly aircraft, the Qantas Dreamliner. GE’s Required Navigation Performance (RNP) technology delivers annual fuel savings of more than $20 million dollars for Qantas flights by improving flight path accuracy.

GE Transportation

GE provides more than 70 per cent of the locomotives in the Pilbara in Western Australia and the Bowen Basin in Queensland, enabling our customers to transport Australia’s biggest export items, iron ore and coal, to ports for worldwide distribution. In December 2012, GE Mining acquired mining equipment manufacturer, Industrea Ltd. The $700 million transaction includes equipment manufacturing and servicing operations in Australia and China – allowing GE Mining to offer more efficient, highly productive and low-emission equipment to its global mining customers. GE Mining is headquartered in Brisbane.

GE Capital

Australia and New Zealand is one of GE Capital’s largest markets, offering consumer finance products to over 3 million customers, with a presence in 1 in 3 Australian households. GE Capital is one of the largest lenders to mid-market companies, working with 1 in 4 mid-market businesses in Australia and partnering with more than 10,000 Australian retail outlets, providing consumer sales finance. In 2012, GE EFS and its JV partners opened Australia’s first utility-scale solar project, the Greenough River Solar Farm. Ten times larger than any other solar project in the country, the project will help meet the State government’s Renewable Energy Target (RET) of 20% by 2020.

GE Oil and Gas

One hundred percent of Australian LNG projects use GE equipment. As part of a 22-year, $600 million USD contractual services agreements, GE works with Chevron Australia Pty, Ltd. to maintain the compression trains, power generation and associated equipment of one of the world’s largest natural gas developments, the Gorgon Project, as well as a broad range of technology services for QGC’s Queensland Curtis LNG plant off the east coast of Australia. GE’s steam turbine-driven compressors will be used in the world’s largest floating LNG platform (FLNG) as part of the Shell Prelude project to tap into previously inaccessible gas resources off the Kimberly Coast in Western Australia.

GE Lighting

In one of Australia’s largest outdoor LED lighting installations, GE has replaced nearly 6,500 street, park and plaza lights in Sydney, saving nearly $800,000 per year in electricity and maintenance, and slashing greenhouse gas emissions by one third.

GE Power

GE will supply turbines and build and maintain the $350 million Boco Rock wind farm in New South Wales. The wind farm will comprise 67 turbines and the clean energy generated will be sufficient to meet the needs of at least 40,000 homes across New South Wales and offset approximately 300,000 tons of greenhouse gas emissions per year relative to coal. GE also worked with the wind farm developer to fund the project through the development phase. In July 2013, Rio Tinto selected GE aeroderivative gas turbines to supply power needed for iron ore production at two sites in the Pilbara, Western Australia as part of Australia’s largest-ever, integrated mining project. In Mumbida, Western Australia, GE is helping Verve Energy power the equivalent of 50,000 homes annually while the GE Frame 9E gas turbine helps Australia’s largest combined cycle power station in Darling Downs, Queensland produce enough power for 400,000 homes each day, more than halving emissions of a typical coal-fired station. GE ZeeWeed advance ultrafiltration technology is helping purify up to 190 million liters of waste water per day before it reaches the Great Barrier Reef in north Queensland.

GE Energy Connections

GE is working with AusGrid in New South Wales on the world’s largest smart grid trials that will bring ground-breaking changes to our country’s energy industry and infrastructure.

Partnership

GE is partnering with the CSIRO (Commonwealth Scientific and Industrial Research Organization) on a five-year, $20 million research and development project to uncover and deliver technologies that will improve people’s lives and improve the environment.

GE Capital and the Australian Graduate School of Management (AGSM) at the University of New South Wales have formed the Australian Mid-Market Growth Alliance aimed at helping Mid-Market business overcome barriers to growth.

Citizenship: Environment, Health, Community

We continually look to invest in ways that make the most of our financial, technical and intellectual resources to benefit our investors, customers, employees and communities:

  • At GE, every employee is encouraged to participate in volunteer activities during work time throughout the year. In Australia & New Zealand, this ranges from fund raising events for the Women’s Cancer Foundation for ovarian cancer research to helping Ardoch with local school programs or caring for intellectually disabled kids during excursions or even planting trees with the local councils. Every year, we donate around 10,000 hours to volunteering across Australia & New Zealand.
  • We also support local organisations including the McGrath Foundation and the Lupus Association for medical research, and Engineers Australia and Robogals to promote engineering as a career path for both men and women.
  • The first ever local Low Carbon ecomagination Challenge in Australia and New Zealand was launched in 2012, a $10 million innovation experiment where businesses, entrepreneurs, innovators and students shared their best ideas low carbon technology.

Further Information

ge.com/au

ge.com/nz