Bangkok -- January 31, 2012 - President and Chief Executive Officer of General Electric (GE) Thailand, Mr. Kovit Kantapasara, said that GE is ready to drive its business forward in 2012 in the energy, aviation, healthcare and lighting industries to help Thailand become a hub for the ASEAN Economic Community (AEC) by 2015.
GE will focus on developing business excellence and increasing its market share while building strong business partnerships. Last year, GE Thailand experienced a 40 percent growth and has set a double-digit target increase for 2012.
"GE is aware of the challenges the world is facing. We are ready to offer innovations in the fields of energy, healthcare services, transportation and public utilities to help the industrial sector and various organizations for the benefit of Thai consumers," said Mr. Kovit.
Energy and Healthcare
In 2011, GE Energy introduced a 50-megawatt gas turbine, the FlexAero GE LM6000. This technology is the latest innovation under GE's ecomagination initiative for small power producers (SPP) supplying electricity for the Electricity Generating Authority of Thailand (EGAT).
Mr. Kovit also noted the rising global demand for energy, with Thailand facing challenges to meet its energy needs. GE considers this a business opportunity in terms of providing technology solutions, products and services to various industry sectors in the country. This includes electricity generation technologies using renewable sources such as water, wind, solar energy, biogas, and other alternative fuels. Mr. Kovit added that GE is poised to support Thailand's future needs in the energy business, including selecting appropriate renewable energy resources.
In the healthcare sector, GE entered partnerships with Thai hospitals to purchase medical products, with GE Healthcare's sales garnering a double-digit growth in 2011. The company, operating under its healthymagination initiative, continues to work to eliminate the challenges faced by healthcare systems, which includes cost, quality, and access to healthcare services.
Aviation and Lighting
Throughout the previous year, GE Aviation introduced products under the ecomagination category to the airline industry, which includes GEnx and GE90 engines. GE Aviation made great strides in the business with its agreement with Thai Airways International for GE90 engines. The airline also celebrated its 25th year of using GE's CF6 engines.
For Lighting business, the company is set to focus on market growth in the hotel and real estate sector. GE Lighting has been installing LED lighting in several retail establishments, helping customers improve efficiency and profitability while being environment friendly.
"GE believes that Thailand still has the potential to greatly expand its economy because of its rich resources. These are fundamental to production in many industries which is a factor that reinforces Thailand as a key country for the AEC," said Mr. Kovit.
About GE
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.
About Ecomagination
Launched in 2005, ecomagination is a business initiative focused on addressing the world's energy and environmental challenges. It is a commitment of developing innovative products and services that can meet these needs while generating profitable growth for the Company. By 2015, we are committed to double our R&D investment to US$10 billion in the next 5 years, reducing our energy intensity by 50% and water consumption by 25%, and at the same time growing two times of our ecomagination revenues.
About Healthymagination
Healthymagination is a business strategy that will offer dramatic new investments toward achieving sustainable health and our global commitment to reducing costs, increasing access and improving the quality of healthcare for millions, while helping GE grow. To date, we have validated 24 healthymagination products, established a US$250 million equity fund, invested US$700 million in R&D, launched the largest consumer campaign in our history, and touched 135 million lives in new ways in the past years.
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