ATLANTA--(BUSINESS WIRE)--Jan. 12, 2006--GE Energy (NYSE: GE) today announced that it has signed a purchase agreement to acquire Altair Filter Technology Group Limited, a leading provider of inlet filtration solutions for the power generation, oil and gas and marine industries. Gresham Private Equity, a regionally based UK mid-market private equity firm, is a majority stakeholder in the business. The transaction, subject to customary closing conditions, is expected to close at the beginning of February.
FLORENCE, ITALY - January 12, 2006 : -- GE's Oil & Gas business has been selected as an equipment supplier for the expansion of China's landmark West-East Gas Pipeline Project, one of the country's most critical infrastructure projects of the 21st century. GE will provide gas turbines, compressors and installation services for 12 new compression stations.
business unit
tags
KANSAS CITY, Mo.--(BUSINESS WIRE)--Jan. 12, 2006--Insurance is a critical foundation of the economy. That fact was underscored when Congress and President Bush approved a two-year extension of the Terrorism Risk Insurance Act (TRIA).
Now that the U.S. re/insurance industry has secured a renewed guarantee of support from the federal government in providing coverage against future acts of terrorism, what lies ahead?
business unit
tags
January 12, 2006, Moscow -- ZAO DeltaBank (a wholly owned subsidiary of GE Consumer Finance, a unit of General Electric Company) announced the opening of mobile kiosks at as many as six Moscow supermarkets of the Ramstore chain, one of the leaders of the Moscow retail trade market. The coming of DeltaBank to Ramstore has become a result of the bilateral agreement between the bank and Ramenka managing company that had been negotiated during 2005.
business unit
tags
NORWALK, Conn.--(BUSINESS WIRE)--Jan. 10, 2006--GE Commercial Finance - Retail Finance today announced that it has provided $57 million in senior secured financing as Administrative Agent for The Rowe Companies (AMEX:ROW). The facility consisted of a $50 million revolving facility and a $7 million tranche B loan. The proceeds will be used to refinance existing secured debt and finance ongoing working capital.
business unit
tags
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Jan. 10, 2006--Marking a milestone in its relationship with Garden Fresh, GE Commercial Finance, Franchise Finance is the sole lead arranger on a $175 million transaction. This allowed an affiliate of Sun Capital Partners, Inc. (Sun Capital) to refinance its bridge financing in connection with its recent acquisition of Garden Fresh and to fund operations and expansion.
business unit
tags
CHALFONT ST GILES, England & OSLO, Norway--(BUSINESS WIRE)--Jan. 9, 2006--GE Healthcare, a unit of General Electric Company (NYSE:GE), and PhotoCure ASA (OSE:PHO), today announced a licensing agreement that grants GE Healthcare exclusive global rights outside of the US and the Nordic region to market and distribute PhotoCure's product Hexvix(R) (hexaminolevulinate), an optical molecular imaging agent intended for the diagnosis and monitoring of bladder cancer. PhotoCure will be responsible for manufacturing and Nordic distribution of the product.
business unit
GE Healthcare-Technologies, a unit of GE International Inc, expects a strong year ahead, on the back of sterling results in the fourth quarter of 2005. General manager Arun Sharma said South-East Asia finished strongly in the fourth quarter, Malaysia accounting for over a fifth of the amount. Total sales for 2005 exceeded RM300 million, growing nearly 40 per cent from the previous year.
business unit
tags
NORWALK, Conn.--(BUSINESS WIRE)--Jan. 9, 2006--GE Commercial Finance - Global Media & Communications today announced that it has provided $65 million in senior secured financing as Administrative Agent for Optasite, Inc. GE Capital Markets acted as Lead Arranger and Sole Bookrunner for the transaction, which closed December 30, 2005. The facility consisted of a $27.5 million delayed draw term loan, $22.5 million term loan and a $15 million revolver with proceeds to be used to refinance existing debt and finance future acquisitions.