Second Contract Awarded For Incremental Train Control System
ERIE, Pa. and BEIJING, China (November 8, 2004) -- GE Transportation, a unit of General Electric Company (NYSE:GE), announcedtoday that it has received an order for 78 locomotives from China's Ministry ofRailways. China currently operates approximately 400 GE locomotives and GE has operated a successful locomotive parts business in China for many years.The 78 locomotives represent the first units sold to China by GE since 1985.
ERIE, Pa. and BEIJING, China (November 8, 2004) -- GE Transportation, a unit of General Electric Company (NYSE:GE), announcedtoday that it has received an order for 78 locomotives from China's Ministry ofRailways. China currently operates approximately 400 GE locomotives and GE has operated a successful locomotive parts business in China for many years.The 78 locomotives represent the first units sold to China by GE since 1985.
ERIE, Pa. and BEIJING, China (November 8, 2004) -- GE Transportation, a unit of General Electric Company (NYSE:GE), announcedtoday that it has received an order for 78 locomotives from China's Ministry ofRailways. China currently operates approximately 400 GE locomotives and GE has operated a successful locomotive parts business in China for many years.The 78 locomotives represent the first units sold to China by GE since 1985.
"I would like to express our thanks to China's Ministry of Railways," said Charlene Begley, president & CEO of GE Transportation's global rail business. "GE has invested heavily in technology, reliability and fuel efficiency. By purchasing GE locomotives, the Ministry of Railways has validated that GE can provide the best locomotive solution anywhere in the world."
The custom designed diesel-electric locomotives will be built in Erie, Pennsylvania beginning in late 2005. They will be powered by a 16-cylinder, four thousand horsepower engine and have GE's industry leading AC propulsion system.
"GE locomotives are recognized for their fuel efficiency, reliability and overall performance," according to Luke Clemente, president of GE Transportation --Rail, China. "Our experience in a number of challenging climates pulling freight long distances will ensure a successful launch in China in 2006."
In addition to the locomotive order, GE Transportation and China's Ministry of Rail have signed a contract to implement GE's Incremental Train Control System, which will allow the MOR to maximize the track capacity, and minimizing wayside equipment.
GE's Incremental Train Control System will be a standalone signaling system for both the freight and passenger trains on over 1,000 kilometers of track in China,making rail more economical to use and maintain.
ITCS is a wireless train control technology that transmits signaling and railroad crossing information to a train's onboard computer, safely separating trains and enabling the engineer to more productively adjust speed limits according to trackconditions, maintenance and speed restrictions.
ITCS uses satellite positioning technology and radio communications and is an ideal solution to address many of China's rail challenges.
"The needs and challenges of the Chinese rail system are a natural fit for our technology products," said Kevin Caponecchi, General Manager of GE Transportation's Global Signalling Unit. "We are excited about the opportunity to help China address the needs and challenges of the region and look forward to playing a key role in the region's rail transportation development."
GE has nearly 5 years of service implementing ITCS in North America on both freight and passenger trains. This year, GE Transportation announced testing on Amtrak's Chicago-Detroit corridor to increase the maximum speed of the passenger trains from 90 mph to 110 mph.
GE Transportation (http://www.getransportation.com/) is one of the world's leading suppliers to the railroad industry,providing freight and passenger locomotives, railway signaling and communications systems,value-added services and information technology solutions to its customers. With sales in excess of $2.5 billion, GE Transportation's rail business employs approximately 8,000 people worldwide.
GE (NYSE: GE) is a diversified technology, media and financial services company dedicated to creating products that make life better. From aircraft engines and power generation to financial services, medical imaging, television programming and plastics, GE operates in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at http://www.ge.com
Chris Banocy