Key Developments: General Electric Co (GE)
23.53USD
24 May 2013
$-0.13 (-0.55%)
$23.66
$23.50
$23.67
$23.49
41,017,825
38,974,491
$24.13
$18.02
Latest Key Developments (Source: Significant Developments)
Iberdrola SA Announces Completion Of Sale Of Its Onshore Operating Assets In France To General Electric Co, MEAG And EDF Energies Nouvelles
Iberdrola SA announced, following the press release dated December 31, 2012, that on May 23, 2013 the operation to sell its total operating assets in France to General Electric Co, MEAG and EDF Energies Nouvelles was completed, having fulfilled the last of the conditions for the transaction. Full Article
XD Group In Talks To Buy General Electric Co's Prolec For Up To $1 Billion-Reuters
Reuters reported that Chinese state-controlled power equipment maker XD Group is in talks to buy General Electric Co's joint venture with Mexico's Xignux SA de CV for up to $1 billion, Bloomberg reported. GE owns 49.99% of the company, Prolec GE, which makes power transformer products. The discussions are at an early stage. Full Article
General Electric Co Plans Sale Of Australian Insurance Unit-DJ
Dow Jones reported that General Electric Co is planning the sale of its Australian insurance unit in a deal which could fetch the Company around AUD300 million (USD307 million), according to a person with knowledge of the transaction. Nomura Holdings Inc. has begun sounding out potential buyers for the unit, known as GE Capital Insurance, which provides consumer credit insurance to around 3 million customers throughout Australia and New Zealand. As part of any deal, the group's consumer finance arm GE Capital is seeking to enter into a 10-year insurance distribution agreement with buyer of its insurance unit, to sell existing and a broader range of financial services products like general and life insurance through its distribution network. Full Article
General Electric Co Receives U.S. Patent
General Electric Co announced that Dr. E. Trifon Laskaris, Chief Engineer and pioneer in imaging technologies, has been awarded his 200th U.S. patent - a previously reached by only one other GE research lab employee, Thomas Edison. Full Article
General Electric Co Announces Acquisition Of 10% Equity Stake In Pivotal
Pivotal announced that General Electric Co plans to make a strategic investment of approximately $105 million, representing a 10% equity stake in the company. The parties also signed a term sheet setting forth a framework for a broad research and development and commercial agreement. GE's Software Center of Excellence will use Pivotal's technologies as a standard source for delivering data analytics and cloud architecture. The investment and business agreement are each expected to be finalized in the second quarter of 2013. Full Article
General Electric Co Reaffirms FY 2013 EPS Guidance-Conference Call
General Electric Co announced that for fiscal 2013, it expects EPS to grow in line with previous commitments. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $1.67 for fiscal 2013. Full Article
General Electric Co's Power Conversion business Signs $80 Million In Additional Contracts For Electric Power And Propulsion Systems Of LNG Carriers And FSRU
General Electric Co's Power Conversion business announced it has been awarded new contracts for orders of electric power and propulsion systems on two liquid natural gas (LNG) carriers and an LNG Floating Storage Regasification Unit (FSRU). In total, GE has signed contracts to supply systems for 26 LNG carriers and five FSRUs. In the last six months alone, the Company has signed contracts worth around $80 million. Full Article
General Electric Co's Gas Engines to Power New Anti-Malaria Equipment Plant in Nigeria
General Electric Co announced it will supply three of its 4-megawatt (MW) Jenbacher J624 gas engines and one of its 2-MW J612 units to power a newfactory that will produce billions of syringes and intravenous (IV) drug products that are needed each year to fight against malaria in Africa. Clarke Energy-GE`s authorized distributor of Jenbacher gas engines in Nigeria-will install the 14-MW cogeneration plant at the syringe and IV products factory on behalf of Nigeria-based Integrated Medical Industries Limited (IMIL). Based in Port Harcourt, Nigeria, IMIL is the first company in the West African sub-region to obtain World Health Organization (WHO) pre-qualification for auto-disable syringes. IMIL is solely owned by the Rivers State Government in Nigeria. GE is scheduled to deliver the J624 and J612 units in the third quarter of 2013. Clarke Energy is serving as the single point of contact from initial sale, project management, engineering, installation through to commissioning, and long-term maintenance. Full Article
General Electric Co's GE Healthcare and HCA Collaborate to Tackle Hand Hygiene
General Electric Co's GE Healthcare and HCA`s Summerville Medical Center have collaborated to develop and deploy a data driven technology solution that tracks hand washing data as it relates to patient care through the use of small sensor tags. The new GE Healthcare AgileTrac RTLS (Real-Time Location System) solution provides a more complete picture of clinicians` hand-washing behaviors than traditional manual programs, which by nature aren`t able to capture as many data points on a daily basis. The automated system collects up to 5,000 data points a day vs. 700 per year with manual observation. By expanding GE Healthcare`s AgileTrac RTLS reach with sensor tags, Summerville Medical Center was able to create a detailed record of each patient`s experience by accurately recording, measuring and reporting hand washing-all without affecting the existing workflow. Each caregiver wears a badge that counts room entries and exits as well as the use of soap or sanitizer dispensers. The data collected from the system is used to model and characterize clinician-patient interactions, providing detailed data to help monitor and modify behavior. The technology was first rolled out in the Summerville Medical Center ICU in the spring of 2012 and then expanded to its medical surgery units and the ER. Full Article
General Electric Co's GE Healthcare Secures Contract To Design New Plant Based Manufacturing Facility In Brazil
GE Healthcare, a company of General Electric Co and iBio, Inc. announced GE Healthcare has signed a contract to design a new plant-based multipurpose manufacturing facility for Bio-Manguinhos/Fiocruz in Brazil. The design project is the first contract for the global alliance between GE Healthcare and iBio, announced in 2012. The alliance combines iBio's plant-based manufacturing platform, iBioLaunch, with GE Healthcare's capabilities in process design and start-to-finish biopharmaceutical and vaccine manufacturing technologies. Full Article
General Electric considering IPO for finance business - CEO
- General Electric Co is considering spinning off parts of its financial arm, GE Capital, through an initial public offering as part of its plan to reduce the size of the business, Chief Executive Jeffrey Immelt said.
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