GE Pins Hopes on Emerging Markets
Wednesday, March 2, 2005
Strategy Is Major Shift From Reliance on the West; Big Rivals Echo Approach, by Kathryn Kranhold
General Electric Co. expects to get as much as 60% of its revenue growth from developing countries over the next decade, Chairman and Chief Executive Jeffrey Immelt said in the company’s annual report. After nearly four years of reshaping the company through $60 billion in acquisitions of financing, water treatment, security systems, bioscience businesses and a movie studio, Mr. Immelt said in his letter to shareholders, ’we have prepared to make our own growth in a slow-growth, more volatile world.’
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Source: The Wall Street Journal