NORWALK, Conn.--(BUSINESS WIRE)--April 18, 2006--GE Commercial Finance - Global Media & Communications today announced that it has closed a deal to provide senior financing to SV Investment Partners ("SV"), and that its affiliate, GE Capital Markets, has arranged mezzanine financing for SV as part of SV's acquisition of Pennysaver Group, Inc., a leading publisher of freely distributed shopper magazines. With GE's financial backing, SV is acquiring Pennysaver from Seaport Capital. The deal closed on Wednesday, April 5, 2006.
NORWALK, Conn.--(BUSINESS WIRE)--April 18, 2006--Showing its continued commitment to cleaner technology, GE's Technology Lending unit announced today that it is providing capital to Ocean Power Delivery, Ltd. (OPD), developer of the world's first commercial facility that will generate electricity from offshore ocean waves. The transaction, made in conjunction with GE Energy Financial Services, extends a loan facility of $2.6 million (GBP 1.5 million) to UK-based OPD.
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NORWALK, Conn.--(BUSINESS WIRE)--April 18, 2006--GE Commercial Finance - Global Media & Communications today announced that it has closed a deal to provide senior financing to SV Investment Partners ("SV"), and that its affiliate, GE Capital Markets, has arranged mezzanine financing for SV as part of SV's acquisition of Pennysaver Group, Inc., a leading publisher of freely distributed shopper magazines. With GE's financial backing, SV is acquiring Pennysaver from Seaport Capital. The deal closed on Wednesday, April 5, 2006.
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NORWALK, Conn.--(BUSINESS WIRE)--April 18, 2006--Showing its continued commitment to cleaner technology, GE's Technology Lending unit announced today that it is providing capital to Ocean Power Delivery, Ltd. (OPD), developer of the world's first commercial facility that will generate electricity from offshore ocean waves. The transaction, made in conjunction with GE Energy Financial Services, extends a loan facility of $2.6 million (GBP 1.5 million) to UK-based OPD.
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PITTSFIELD, Mass.--(BUSINESS WIRE)--April 17, 2006--Ready in time for the hurricane season, the Lexan(1) Clear Storm Panel protects windows and doors with advanced design and materials technology - and they enhance the attractiveness of the home. The Lexan Clear Storm Panel has all the technologically advanced features of the company's signature Lexan material. The panels give windows and doors four times the impact resistance of half-inch plywood, and yet they're 30 to 50 percent lighter than traditional metal panels.
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EVENDALE, Ohio--(BUSINESS WIRE)--April 17, 2006--Broens Aerospace was awarded a Purchase Order (PO) by GE to design and build three tooling mandrels required to manufacture the engine bypass duct during the System Development and Demonstration Phase (SDD) of the F136 engine program. The PO has the potential for follow-on POs in the production phase of the F136 program.
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FLORENCE, ITALY -- April 17, 2006 :- GE's Oil & Gas business will supply 12 fixed bed reactors for a new refinery project to be developed by the Kuwait National Petroleum Company (KNPC) in Al Zour, Kuwait.
When completed in 2010, the new greenfield facility -- designed for Kuwait heavy crude/Kuwait export crude oil processing -- will be the largest refinery in the Middle East, with a capacity to process 615,000 barrels per day of Kuwait export crude oil.
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KANSAS CITY, Mo.--(BUSINESS WIRE)--April 17, 2006--Insurance carriers and producers face a myriad of new regulations regarding how they're compensated for their services and how they disclose that compensation. GE Insurance Solutions has developed guidance on current trends in producer disclosure requirements.
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FAIRFIELD, Conn.--(BUSINESS WIRE)--April 13, 2006--Financial Highlights (Continuing Operations):
-- Revenues of $37.8 billion, up 10%; organic revenue growth of 9%
-- Earnings of $4.0 billion, up 14%; earnings per share (EPS) of $.39, up 18%
-- Total orders up 33%
-- Five of GE's six businesses deliver double-digit earnings growth
-- Cash from GE's operating activities (CFOA) up 132% to $6.7 billion; Industrial CFOA up 24%
-- Return on average total capital (ROTC) increasing 1.4 percentage points to 17%