General Electric Company
|
|
|
Investor profile
General Electric Company
Connecticut, USA
Company's website: www.ge.com
T: +1 2033732211
Public company (NYSE: GE)
Contact: Mr Ferdinando Becalli-Falco, Chief Executive Officer International
General Electric Company (GE) operates as a technology, engineering, media and financial services company worldwide.
GE has been operating in Russia and CIS since early 20th century.
In 1922, GE’s Chief Engineer Charles Steinmetz addressed Vladimir Lenin in a letter outlining possible areas of cooperation, particularly, in developing the energy infrastructure of the Soviet Union.
As a result, in the 1920s and 1930s GE not only participated in electrical engineering projects in the USSR but also supplied the first locomotives for the country’s railroads and other industrial equipment.
The representation office was opened in Moscow in 1974, GE increased its presence in the regional market at the beginning of the 1980s and intensified after the collapse of the Soviet Union.
Employees: 3200 people in 25 towns.
Each of GE’s businesses has a significant presence in Russia & CIS:
supplied more than 2000 units of advanced diagnostic medical equipment to over 750 hospitals in Moscow, St.-Petersburg, Belgorod, Ufa, Krasnodar, Novosibirsk, Khabarovsk and other Russian cities.
supplies railway signaling systems and products to the rail network in Russia & CIS.
includes GE's energy, oil and gas, and water and process technologies businesses. In Russia & CIS GE Oil & Gas is one of the most dynamic players in the oil and gas market. The first joint projects date back to mid-20th century when GE Oil & Gas supplied gas turbine and compressor equipment for the petrochemical and gas transportation systems of the USSR. Today GE Oil & Gas has abundant experience in working with leading oil and gas companies. GE Energy has worked in Russia since the early 1900s supplying the equipment to develop the country’s energy infrastructure. Today over 400 gas-turbine units, 65 steam turbines, 700 compressors and over 600 units of other equipment including air coolers, condensers, gas separators and pumps produced by GE Energy & GE Oil & Gas have been installed in Russia & CIS.
engines have been successfully operated by the leading Russian local airlines. GE Aviation has established partnership in the R&D sphere with several leading local enterprises and scientific institutes.
GE is also active in financial services in Russia & CIS. GE Money Bank employs over 2,000 people and provides a full range of credit services to consumers. GE Commercial Finance provides business finance services to businesses.
is one of the world’s leading media and entertainment companies in the development, production and marketing of entertainment, news and information to a global audience. Universal Pictures became the first among world media companies to enter the Russian market.
From the familiar lightbulb to the latest advancements in consumer technology, GE Consumer & Industrial has a long tradition of life changing innovations that have improved the quality of life for millions of people everywhere. In Russia & CIS GE Lighting takes a leading position in the market.
Power generation equipment giant General Electric (GE) has opened an energy technology center in Kaluga, 180 km from Moscow.
The General Electric energy technology center started work in the Rosva industrial park near Kaluga. It will carry out service work on electrical equipment made by GE and used in Russia.
The total investment in the center is $50 million.
Around 100 highly qualified specialists works at the center, which will primarily undertake overhaul of components from GE gas turbines working in Russia and the CIS.
The Kaluga facility is one of 12 GE Energy technology centers located around the globe.
“Russia is an energy powerhouse and central to our strategy short, medium and long term. The opening of the Energy Technology Center underscores GE’s commitment to invest in the future of Russia and its people. It is a key part of our strategy to support our customers in Russia with the latest technologies and services across the full spectrum of the energy landscape, including power generation, water, energy services and oil and gas. It also supports our global initiative to invest and expand our presence in promising growth regions worldwide. We are accelerating the localization of our capabilities to better compete and partner for success.”
John Krenicki, GE Vice Chairman up to 2012
The Russian Direct Investment Fund (RDIF) and General Electric will sign a Memorandum of Understanding to create a joint venture (JV) for the construction of mini power plants for manufacturing companies across Russia. The Memorandum will be signed at a ceremony on June 21st by Ron Pollett, GE President and CEO for Russia and CIS countries, and Sean Glodek, RDIF Director, at the Saint-Petersburg International Economic Forum. Jeff Immelt, GE Chairman and CEO, and Kirill Dmitriev, RDIF CEO, will also attend the signing.
Growing demand for individual electric power generation systems in Russia has been driven by growth of the industrial sector. The joint project will focus on the production of low power co-generation systems (up to 25 MW) to meet growing demand for energy from infrastructure projects in the Russian regions.
These systems are independent from the federal power grid and serve customers’ needs by directly supplying energy without the need to construct transmission lines reducing the risk of power cuts.
With rising energy prices, increasing energy consumption and tougher environmental requirements for industrial facilities, combined heat and electric power systems have taken on a greater role.
“This memorandum confirms our commitment to work together to develop state-of-the-art power supply solutions for industrial facilities in Russia. Autonomous electric power systems using innovative GE equipment offer considerable economic benefits and comply with the most up-to-date environmental requirements. We expect that this collaboration will allow us to expand our geographic footprint, helping to modernize Russia’s industrial infrastructure.”
Ron Pollett, President and CEO, GE in Russia and CIS
“The partnership between RDIF and GE will demonstrate how innovative global technologies in energy can be used to develop advanced power generation systems in Russia. Most importantly, the joint project will help provide electricity to small manufacturing companies located across the country.”
Kirill Dmitriev, CEO, Russian Direct Investment Fund