GE unveils China turbine deal
BOSTON (Reuters) - General Electric Co reached a deal with China Huadian Corp to supply the world's second-largest economy with about 50 gas turbines and generate some $500 million in revenue over the next five years.
About $350 million of that sum will come in the form of exports from the United States, GE said.
The largest U.S. conglomerate has focused on the fast-growing Chinese economy as a major opportunity to drive sales of aviation, power and health care equipment. GE Chief Executive Jeff Immelt in December told investors the company expects "excellent growth in China in 2011."
GE announced the deal on Tuesday, a day before Chinese President Hu Jintao is due in Washington for a state visit and summit with President Barack Obama.
(Reporting by Scott Malone, editing by Gerald E. McCormick)