GE looking to developing nations for future growth
Thursday, April 28, 2005
Sixty percent of General Electric Co.’s growth in the next decade will come from developing countries, with revenue from China alone expected to top $5 billion in 2005, GE’s top executive said yesterday at the company’s annual meeting.
“This is a great time for your company, because we are outperforming in a slow-growth world,” chief executive Jeff Immelt told shareholders.
The industrial, financial, and media powerhouse has won 70 percent of China’s commitments for power turbine engines over the past two years along with a commitment from the country’s East-West Rail line for locomotive equipment, Immelt said.
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Source: Associated Press