GE Transportation won a $1.4 billion contract from China's Ministry of Railways including $350 million for export of locomotives, locomotive sub-assembly, service support and signaling systems.
These exports have the capacity to create approximately 2,000 manufacturing jobs in the U.S employing high technology. GE also signed an additional letter of intent reaffirming collaboration on High-Speed Rail opportunities through dedicated corridors in Florida and California.
General Electric (GE - Free Report) has one of the best infrastructure franchises worldwide with solid organic growth rates, exposure to favorable secular trends and a large installed base supporting a growing annuity-like service business.
Infrastructure businesses from GE are helping build the energy, health, transportation and technology infrastructure of the new century. These businesses provide the products and services that help developing regions participate in the global economy, while also helping developed regions upgrade with cleaner, more efficient and better technologies.
Financial business at GE offers an array of products and services aimed at enabling commercial businesses, consumers and markets worldwide to build a stronger and financially secure future.
GE has adopted strategic imperatives to strengthen its portfolio by building strong growth platforms and generating cash from low-return businesses. Its focus remains on accelerating organic growth and achieving technical and service excellence, while building enduring customer relationships around the world.
GE has products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and industrial products.
Since its incorporation in 1892, the company has developed or acquired new technologies and services that have broadened considerably the scope of its activities. Philips (PHG - Free Report) and Siemens AG are major competitors.
We currently have a Neutral recommendation on General Electric Company.