GE Veteran David Tucker to head new unit
FLORENCE, ITALY - March 21, 2007 :- A "Global Welcome Day" for more than 5,000 VetcoGray employees who are joining GE Oil & Gas as the result of the recently completed acquisition was marked Tuesday at eight locations worldwide.
"This is an opportunity for all 11,000 GE Oil & Gas employees to celebrate today's successes and to look toward future challenges," said Claudi Santiago, a GE senior vice president and president and CEO of GE Oil & Gas."Today, we are celebrating two proud histories and one exciting future."
"Welcome Day" activities were broadcast across eight VetcoGray sites in Europe, the United States, Mexico, Brazil and Singapore.
In early January, GE Oil & Gas announced its intent to acquire VetcoGray, an industry-leading supplier of products, systems and services for onshore, offshore and subsea drilling, completion and production. Following the receipt of all governmental and regulatory approvals, the acquisition was officially completed on February 23, 2007.
"Through this acquisition, customers worldwide will gain access to an enhanced portfolio of products and services," said Santiago. "VetcoGray and its employees will benefit from GE's global resources, including broader career development opportunities and training programs, and GE's Oil & Gas business will expand its opportunities for growth in new industry segments such as drilling, completion and subsea production."
"Welcome Day" also officially marked the appointment of David Tucker as Chief Operating Officer for VetcoGray. In this role, Tucker will be responsible for leading the business and ensuring a successful integration process. Recently promoted to GE company officer, Tucker is a seasoned executive who has run various global organizations during his 23 years with GE.
"VetcoGray is a true oil field services company with great people. We have an opportunity in front of us to bring together the technology, product development, fulfillment and service capabilities of both GE and VetcoGray in ways that will create tremendous value for our customers and shareholders. The strength and breadth of GE will allow VetcoGray to partner with customers in bold new ways that help the growth of this industry. VetcoGray will be a great asset to the overall GE Oil & Gas business and ultimately to the GE shareholder," said Tucker.
A 103-year-old company, VetcoGray employs 5,000 people at more than 60 locations in 30 countries, and generated a global turnover of approximately $1.6 billion in 2006. Headquartered in Houston, Texas, VetcoGray has major production facilities in Brazil, Norway, Scotland, Singapore and the United States. Research and Development Centers are located in Houston, Texas, Aberdeen, Scotland and Oslo, Norway while manufacturing and service facilities are located in Argentina, Australia, Canada, China, Denmark, England, Indonesia, Nigeria, Norway, Scotland, the United States and Venezuela.
About GE's Oil & Gas business
GE's Oil & Gas business is a world leader in advanced technology equipment and services for all segments of the global oil and gas industry. Based in Florence, Italy, the company offers complete solutions for production, LNG, transportation, storage, refineries, petrochemicals and distribution systems, as well as pipeline integrity solutions including pipeline inspection and pipeline asset management. Through its recent acquisition of VetcoGray, GE Oil & Gas has added products, systems and services for onshore and offshore drilling, completion and production to its portfolio.
For more information, contact:
Gabriele Peri
GE
Oil & Gas
+39-055-423-8280
[email protected]
Ken Darling or Howard Masto
Masto Public Relations
+1-518-786-6488
[email protected]
[email protected]
Sara Hassett
GE Oil & Gas
[email protected]
+39-055-423-3361