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4-Traders Homepage  >  Equities  >  Nyse  >  General Electric Company    GE

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General Electric Company : GE Launches Dedicated Power Generation Products and Services Business Unit in China

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07/05/2013 | 05:16pm CEST

BEIJING-July 5, 2013-GE (NYSE: GE) today announced it has established a new, dedicated Power Generation Products and Services business unit in China to more effectively pursue growth opportunities for the company's power generation products and services that can meet the growing demand for cleaner, more energy efficient solutions. The new business is headquartered in Beijing and includes GE's heavy duty gas turbine, steam turbine, generator and gasification products and services.

Yang Dan, a nearly 20-year GE veteran, has been chosen as the general manager of GE's new Power Generation Products and Services China business.

GE is realigning several of its Power & Water businesses in China because the country is a unique region that requires a greater emphasis on building relationships and greater localization of GE's business resources to enhance GE's existing local partnerships.

GE's dedicated Power Generation Products and Services unit will support efforts by these local partnerships to help China address the growing demand for power, which is expected to double in the next 10 years. For example, GE's more efficient gas and steam turbine technologies and services are ideally suited to support China's goal to utilize more of the country's domestic natural gas reserves.

Under Yang Dan's leadership, GE's new business unit will have enhanced local capabilities, expertise and decision-making authority to more effectively compete in China, where the demand for cleaner gas, coal and alternative energy technologies continues to increase.

"Yang Dan has been a dynamic leader in our Power Generation business for nearly 20 years, and she has a proven track record of success in China," said Steve Bolze, president and CEO of GE Power & Water. "GE has an extremely strong local talent base in China, including both important business leaders like Yang Dan and highly motivated and engaged teams."

According to Bolze, one of the top priorities of the new business is to increase GE's local capabilities by optimizing the company's power generation partners in China, including Harbin Electric for heavy duty gas turbine projects, as well as Nanjing Turbine and Electric Machinery Company (NTC) in both gas and steam turbines.

The new Power Generation Products and Services China business will have all the resources it needs-including supply chain, engineering, sales, commercial operations, and marketing, with team members reporting directly on a local basis.

This realignment of GE's thermal and power generation services teams does not affect GE Power & Water's existing renewables, distributed power, water and nuclear teams in China. GE is making the move to address China's unique local dynamics and is not planning to make any similar changes in any other countries.

Yang Dan began her GE career in 1994 as a customer services manager supporting China. Since then, she has held a variety of sales, project management, operations and services roles of increased responsibility. In 2003, she was promoted to general manager of GE's Qing Huang Dao Service Center. She also served as director for Power Services Asia and general manager for Power Generation Services North Asia.

Most recently, she served as Asia Region Manager for Power Generation Services. In that position, she was responsible for achieving profitable growth while driving operational excellence through all of GE's Power Generation Services activities, including China. Yang Dan oversaw the significant growth of GE's services business in Asia by partnering closely with GE's commercial team to focus on technology expertise with our installed equipment base. In addition, her focus on service excellence resulted in the company's development of a world-class tooling center in Singapore as well as the best environment, health and safety levels in Power Generation Services.

About GE

GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.

About GE Power & Water

GE Power & Water provides customers with a broad array of power generation, energy delivery and water process technologies to solve their challenges locally. Power & Water works in all areas of the energy industry including renewable resources such as wind and solar; biogas and alternative fuels; and coal, oil, natural gas and nuclear energy. The business also develops advanced technologies to help solve the world's most complex challenges related to water availability and quality. Power & Water's six business units include Distributed Power; Nuclear Energy; Power Generation Services; Renewable Energy; Thermal Products and Water & Process Technologies. Headquartered in Schenectady, N.Y., Power & Water is GE's largest industrial business.

Follow GE Power & Water on Twitter @GE_PowerWater.

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Sales 2016 125 838 M
EBIT 2016 18 917 M
Net income 2016 12 599 M
Debt 2016 74 179 M
Yield 2016 3,01%
P/E ratio 2016 24,74
P/E ratio 2017 19,26
EV / Sales 2016 2,81x
EV / Sales 2017 2,44x
Capitalization 279 859 M
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Jeffrey R. Immelt Chairman & Chief Executive Officer
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Jim Fowler Chief Information Officer
Victor Abate Chief Technology Officer & Senior Vice President
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