New Brazil Global Research Center to be located in Rio de Janeiro
GE to Expand Oil & Gas, Clean Energy, Mining and Transportation Businesses
Global Learning Center for Executive Development and Leadership Training Planned
Rio de Janeiro -- November 10, 2010
-- General Electric Company (NYSE: GE) announced today that it plans to
invest $500 million (USD) to expand its operations in Brazil and to
accelerate technology partnerships with leading Brazilian companies
spanning multiple industries. The announcement was made this morning at
a news conference in Rio de Janeiro, which was chosen as the home for
GE's newest multi-disciplinary Research and Development Center.
The
$100 million Brazil Global Research Center will be located on the Ilha
do Bom Jesus peninsula and, when fully operational, will employ 200
researchers and engineers. Work at the center will focus on advanced
technologies for the oil & gas, renewable energy, mining, rail and
aviation industries.
"For
90 years we have formed strong relationships throughout Brazil with
many trusted partners," said Ferdinando Beccalli-Falco, President and
CEO of GE International. "As we look ahead, we see an even brighter
future that requires aggressive investment, which will result in more
innovation coming to market. Brazil offers GE some of the most
sophisticated and aggressive customers in the world. The Brazil Global
Research Center will be a hub for deepening relationships that will
result in growth for GE, its customers and the country."
GE
has had a presence in Brazil since 1919 and, today, employs more than
6,000 people in the country. The company has operations throughout the
country, including São Paulo, Minas Gerais and Rio de Janeiro.
In
addition to the new research center, GE plans to invest $400 million
over the next three years in technology, training, new product
development, new plant and equipment and human capital, including:
- $200
million for new wind turbine and aeroderivative product developments
and increased plant capacity for GE's Energy and Oil & Gas business;
- Capacity
expansions and new production facilities for GE's Healthcare and
Transportation, businesses both in Contagem, Minas Gerais; GE Aviation
in Petrópolis, Rio de Janeiro State and GE's Lighting businesses in a
yet to be determined location, totaling $200 million;
- $50
million for training and development and the creation of a Global
Learning Center to be collocated with the new Brazil GE Global Research
Center;
- The creation of 1,000 new GE jobs, spanning all of the company's businesses;
- Development of new suppliers and partners for more robust, localized production capabilities
Mark
Little, Senior Vice President of GE Global Research, said, "Brazil
presents tremendous opportunity for growth and increased collaboration
with our customers. Over the past decade GE Global Research has expanded
our operations in the United States, Asia and Europe. This has allowed
our researchers to more effectively collaborate with customers and other
technologists around the world to speed the pace of innovation. The
Brazil GE Global Research Center is an important part of that strategy."
In
addition to lab space, offices and conference facilities, the 140,000
square foot Center will include a GE Global Learning facility, where GE
employees from Latin America will join senior leaders from industry,
academia and government to learn and share best practices.
Following
finalization of negotiations and architectural design work,
construction of the complex should begin in mid 2011 and is targeted for
completion in late 2012. The decision to locate the Global Research
Center in Rio de Janeiro was made following a thorough site evaluation
process that involved input from customers, university partners and
government officials. GE selected the Ilha do Bom Jesus location for
its available space and because of the efforts of Mayor Eduardo Paes.
Mayor
Paes said, "GE's first facility in Brazil was located in Rio de Janeiro
and we are very honored that GE has chosen our city as the home of its
new Global Research Center. Innovation and technology development are
an important part of the city's plans for future job expansion and
economic growth."
Sérgio de Oliveira Cabral Santos Filho, Governor
of the state of Rio de Janeiro, said, "Job expansion, especially in the
technology sector, provides the underpinnings for growth and
opportunity in our state and in our country. GE's investments,
including the Brazil Global Research Center, are representative of the
types of high-tech operations that we need to ensure that our economy
continues to expand."
GE
today also signed agreements with partners, universities and
corporations from across Brazil to develop research collaborations.
Memos of Understanding were signed with the City of Rio de Janeiro,
State of Rio de Janeiro, Federal University of Rio de Janeiro
(UFRJ/COPPE), Institute for Technical Research (IPT), Ministry of
Science and Technology of the Federal Republic of Brazil, Vale and MRS
Logística. GE and Petrobras plan to sign a research MOU tomorrow at the
company's headquarters in Rio de Janeiro.
About GE
GE
(NYSE: GE) is a diversified infrastructure, finance and media company
taking on the world's toughest challenges. From aircraft engines and
power generation to financial services, medical imaging, and television
programming, GE operates in more than 100 countries and employs about
300,000 people worldwide. For more information, visit the company's Web
site at www.ge.com
About GE Global Growth
GE
Global Research is one of the world's most diversified industrial
research labs, providing innovative technology for all of GE's
businesses. Global Research has been the cornerstone of GE technology
for more than 100 years, developing breakthrough innovations in areas
such as medical imaging, energy generation technology, jet engines and
lighting. GE Global Research is headquartered in Niskayuna, New York and
has facilities in Bangalore, India, Shanghai, China and Munich,
Germany. Visit GE Global Research at www.ge.com/research.
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GE
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