FedEx Signs Engine Purchase & Service Agreement for Airbus A380 Freighters FARNBOROUGH, England--(BUSINESS WIRE)--July 23, 2002--FedEx Express, a subsidiary of FedEx Corp., (NYSE:FDX), has become the third customer to select the GE-P&W Engine Alliance's GP7200. FedEx Express has signed a contract with the GE-P&W Engine Alliance for GP7200 series engines to power 10 firm Airbus A380-800F freighter aircraft. In addition, FedEx has signed a 20-year fleet management agreement with the Engine Alliance for the engines' maintenance that begins in 2008.
GE Power Systems Announces Plans to Reduce Workforce
Due to Lower Equipment Demand
ATLANTA--(BUSINESS WIRE)--July 23, 2002--GE Power Systems (GEPS)
has announced plans to eliminate approximately 2,500 jobs over the
next nine months and expectations of further reductions in late 2003
in response to the reduction in the demand for power generation
equipment.
The announced employment reductions will occur primarily in the
turbine production facilities of its Energy Products business where
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GE Wins Major Hydro Service Contract in Norway OSLO, Norway--(BUSINESS WIRE)--July 17, 2002--Norway's biggest power producer, Statkraft SF, has awarded the largest turbine upgrade contract in the company's history to GE Hydro, a unit of GE Power Systems, for the refurbishment of five hydropower plants.
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GE Wins Major Hydro Service Contract in
Norway
OSLO, Norway--(BUSINESS WIRE)--July 17, 2002--Norway's biggest
power producer, Statkraft SF, has awarded the largest turbine upgrade
contract in the company's history to GE Hydro, a unit of GE Power
Systems, for the refurbishment of five hydropower plants.
The project covers 770 megawatts of capacity and is valued at
US$11.9 million.
This is the most extensive turbine modernization project to date
for the Oslo-based Statkraft, which owns about 30 percent of the
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SCOTTS VALLEY, Calif. & MILWAUKEE--(BUSINESS WIRE)--July 15, 2002--
First donations through Assist International to be made
to African nations, Afghanistan
Today GE Medical Systems, a unit of General Electric Company (NYSE: GE), announced the donation of more than 200 ultrasound systems, probes and accessories to Assist International, a non-profit humanitarian organization involved in donating and installing high-tech medical equipment in hospitals and clinics in developing countries. The donation is valued at $6.5 million.
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GE Wins Grand Coulee Generator Upgrade Project ATLANTA--(BUSINESS WIRE)--July 15, 2002--The U.S. Department of the Interior's Bureau of Reclamation has awarded GE Power Systems a $3.8 million contract for a generator refurbishment project at the Grand Coulee Powerplant in Washington State. Located at Grand Coulee Dam on the Columbia River, the Grand Coulee hydroelectric power plant is the largest power production facility in North America, generating an average of 21 billion kWh annually.
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FAIRFIELD, Conn.--(BUSINESS WIRE)--July 12, 2002--General Electric Company (NYSE:GE)--GE's second-quarter 2002 earnings grew 14% over second quarter 2001 to $4.4 billion, or $.44 per share, the highest of any quarter in the Company's history, GE Chairman and CEO Jeff Immelt announced today.
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Three GE Gas Turbines Selected for New Power Plant in China ATLANTA--(BUSINESS WIRE)--July 11, 2002--GE Power Systems has received a contract of approximately $38 million Euros (US$35.4 million) to supply three gas turbine-generators for a combined-cycle plant that will provide 175 megawatts of power for a world-scale, integrated petrochemical site being developed in Nanjing, Jiangsu Province, China.
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FAIRFIELD, Conn.--(BUSINESS WIRE)--July 9, 2002--GE will Webcast its conference call on second quarter financial results on Friday, July 12 at 9 a.m EDT.
The conference call will follow the Company's news release on results, which will be available at approximately 6 a.m. that morning. The call and related materials will be available at www.ge.com/investor.