Key Developments: General Electric Co (GE)

GE on New York Consolidated

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2 Jun 2015
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Latest Key Developments (Source: Significant Developments)

General Electric Breaks Ground on New York Solar Installation for President Container
Friday, 29 May 2015 08:00am EDT 

General Electric Co (GE):Says Ge's renewable energy business announced it will supply president container with new 2 mw solar installation outside factory in Middletown.Says commercial operation is expected to begin in the fall of 2015.  Full Article

Transense Technologies plc Memorandum of Understanding with General Electric Co
Monday, 18 May 2015 02:01am EDT 

Transense Technologies plc:Confirms developing new instrumentation applications utilising its core wireless, passive Surface Acoustic Wave (SAW) measurement technology with General Electric Co.  Full Article

Cembra Money takes note of General Electric announcement to sell its stake in Cembra
Thursday, 7 May 2015 01:56am EDT 

Cembra Money Bank AG:Takes note of General Electric's announcement to sell its stake in Cembra and intends to participate in GE's accelerated bookbuilding offering.Intends to use up to 100 million Swiss francs excess capital to buy back its shares from GE through order in book at price determined in accelerated book-building.General Electric company announced offering of up to 9,460,785 shares of Cembra.  Full Article

Con Edison Development enters into agreement with General Electric Co to procure GE Energy Storage System
Thursday, 16 Apr 2015 08:00am EDT 

General Electric Co:Says it will supply Con Edison Development (CED) with an 8 MWh battery energy storage system in Central Valley.Says new storage solution will be utilizing GE's Mark VIe-based plant control system, Brilliance MW Inverters, and packaged lithium ion battery modules.  Full Article

Lawsuit filed over fire at General Electric’s Appliance Park in Louisville, Kentucky - AP
Monday, 6 Apr 2015 08:00pm EDT 

General Electric Co (GE):A lawsuit has been filed against General Electric over a fire at its Appliance Park last week - The Associated Press.The lawsuit was filed in Jefferson County Circuit Court by a resident who lives near the complex and claims the company was negligent in storing flammable material in its warehouse.The lawsuit also says residents affected by the order to stay inside suffered harm from 'noxious plumes of black smoke' and 'excessive amounts of particulate matter.Plaintiff is seeking a class-action lawsuit on behalf of all who live with the shelter-in-place area and anyone else affected by the remnants of the fire.Derby Industries, which leases space from GE, was also named in the suit.  Full Article

Enel Green Power to sell stake in North America assets to General Electric subsidiary for $440 mln
Tuesday, 31 Mar 2015 12:50pm EDT 

Enel Green Power SpA:Agrees to sell a 49 percent stake in newly created company holding its North American renewable assets to General Electric subsidiary GE Energy Financial Services for about $440 mln.New company, EGPNA Renewable Energy Partners LLC, includes 560 megawatt portfolio of wind, geothermal, hydropower and solar generation assets in operation as well as a 200 MW wind farm currently under construction.All assets are based in North America.Enel Green Power's North American subsidiary is to hold remaining 51 percent stake.  Full Article

General Electric Co's GE Energy Financial Services acquires Langhope Rig Wind Farm in Scotland from SSE
Thursday, 26 Mar 2015 09:19am EDT 

General Electric Co (GE):Says GE Energy Financial Services, unit of GE signs an agreement with SSE Plc to acquire 16-megawatt Langhope Rig wind farm.Says Langhope Rig wind farm comprises 10 GE 1.6-megawatt wind turbines which GE Energy UK will service under long-term operations and maintenance agreement.Under terms of acquisition agreement, GE Energy Financial Services will own and operate the wind farm once it becomes operational later this year.  Full Article

General Electric Co expands job cuts at Lufkin oil unit to 575 from 330 - Reuters
Wednesday, 25 Mar 2015 09:12pm EDT 

General Electric Co:It increased planned job cuts in its Lufkin oilfield equipment unit to 575, as it grapples with pressure on the unit from the drop in oil prices - Reuters.The move follows GE's notification to regulators in January of the planned layoffs of 330 people at its beam-pumping manufacturing facility in Lufkin, Texas.The total number of reductions was raised to 500 people in February and then boosted again to 575.The cuts will impact workers in Angelina County, Texas.As a result of increasingly challenging market conditions, announcing additional workforce reductions in our Lufkin business.  Full Article

Hardide PLC announces agreement extension with General Electric Co
Monday, 23 Mar 2015 03:00am EDT 

Hardide PLC:Says General Electric Company Inc. (GE) has agreed one year extension to Feb. 2017 of its existing two year supply agreement.This will provide an additional $0.7 mln of guaranteed sales to company over term of contract.Agreement, originally signed for two year term effective from March 2014, will now guarantee total sales of $2.0 mln over its three year term to Feb. 2017 and remains extendable up to five years.  Full Article

General Electric Co and Kemira create global alliance
Wednesday, 11 Mar 2015 10:04am EDT 

General Electric Co and Kemira:Says a formal distribution agreement, which combines GE's advanced water technology with Kemira's on-site services to deliver a seamless offering to the global pulp and paper industry.For the first time, GE's newest and most advanced boiler and utility area cooling product technologies as well as membrane cleaning chemistry and the entire chemistry water portfolio is now available to the pulp and paper industry.Also included are the remote monitoring and diagnostics products_including the InSight* Knowledge Management Solution and TruSense*_and Novus* polymers for wastewater treatment.Pulp and paper manufacturers also will have access to experts at GE's Service Reliability Center for 24-hour monitoring and support, all backed by both GE and Kemira on-site expertise.  Full Article

Deals of the day- Mergers and acquisitions

June 1 - The following bids, mergers, acquisitions and disposals were reported by 2020 GMT on Monday:

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