GE Oil and Gas Compression Technology, a subsidiary of General Electric Company (GE - Free Report) , has been selected to facilitate one of China’s most significant energy infrastructure projects. In two contracts worth $100 million, the company will supply six gas turbine-driven compressor trains and nine electric motor–driven compressors to PetroChina for the Eastern portion of the second West-to-East Pipeline.
GE Oil & Gas is proactively involved in China for more than 30 years and is a leading player in the country's refinery and petrochemical sectors.
GE 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 services 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.