Enhanced Presence Supports Strong Regional Growth
RIYADH, SAUDI ARABIA -- May 31, 2007 -- Further expanding its local capabilities in the region's robust power generation industry, GE Energy is establishing new power generation projects offices in the Middle East to coordinate project management activities for the region, where the company has project commitments of more than $4 billion.
*Socio-economic development ranks high in GE approach
*John Rice, GE Vice Chairman, lists new localization initiatives
Jeddah, Saudi Arabia; May 31, 2007: John Rice, Vice Chairman of GE and President & CEO of GE Infrastructure, today, presented the company's growth strategies for the Kingdom of Saudi Arabia at a presentation held at King Abdullah Economic City, the single largest private sector-led development in the region, which has the Saudi Arabian General Investment Authority (SAGIA) as its prime facilitator.
RAS LAFFAN INDUSTRIAL CITY, QATAR -- May 30, 2007 -- Further increasing its local support for the region's gas industry, GE Oil & Gas is building a new facility in Ras Laffan Industrial City that will represent a significant GE footprint for the Middle East and act as a service technology hub for customers.
Largest GE Units of Their Type Ordered This Year
HOUSTON, TEXAS -- May 30, 2007 -- GE Oil & Gas turbo-expander compressor technology has been selected for the gas treatment plant of the Pearl GTL (gas-to-liquid) project in Qatar -- one of the largest GTL projects currently under way in the world.
Dubai, UAE -- May 29, 2007 : GE Sensing is on schedule to unveil its first dedicated calibration, repair and training centre in the Middle East, when its new 370m² service centre opens its doors in November 2007.The new facility will serve all Gulf countries outside Saudi Arabia and is a further demonstration of GE's commitment to on-going investment in the region.
DUBAI, UAE -- May 29, 2007 -- GE Energy today announced that Joe Anis has been appointed Region Executive for the Middle East. Anis, a 10-year GE veteran, had been leading GE Energy's Power Generation sales activities for the Middle East and Africa.
"In this role Joe will be responsible for driving GE Energy's growth and execution in the region across the entire GE Energy portfolio," said James Suciu, President of Sales for GE Energy. "Under his leadership, the Power Generation business has seen strong growth in the region."
*MEA growth to focus on people, product, process and technology compliance
Dubai, UAE; May 29, 2007: Led by a strengthening of the regional infrastructure, industrial and healthcare businesses, GE expects an average annual growth rate of 20 per cent through to 2010. The roadmap to growth in MEA will be underscored by effective compliances between the people, products, processes and technology.
FAIRFIELD, Conn.--(BUSINESS WIRE)--GE (NYSE: GE) today announced that it has signed a definitive agreement to sell GE Plastics to Saudi Basic Industries Corporation (SABIC), a globally respected petrochemicals manufacturer, in a deal valued at $11.6 billion in cash plus assumption of liabilities. The closing of the transaction is subject to customary conditions, including the receipt of regulatory approvals, and is targeted for the third quarter of 2007.
