‘Company’ to Country’ strategy leads to growth opportunities

GE and its Chinese partners that represent some of that country’s key infrastructure development goals announced the signing of a series of “Country to Company” agreements aimed at promoting collaboration between GE and Chinese public and private sector aviation, energy and transportation organizations. The announcements, which were made as part of "GE's Clean Technology Week in China" activities, included the formation of two joint ventures – in avionics and locomotive engines; and the parties’ agreements to explore future “cleaner coal” gasification and high-speed rail opportunities.

The agreements encourage active collaboration to advance clean technologies that address both long-term strategic challenges and economic opportunities for GE and China. Over time, these initiatives are expected to create and safeguard thousands of jobs in both countries.

Jeff Immelt, Chairman and CEO of GE said, “These agreements share common themes – rapid growth potential, clean technologies and job creation. Whether expanding our existing aviation, energy and transportation relationships or looking at technology collaborations to open up new growth opportunities, partnerships like these help protect and grow employment for both GE and China’s infrastructure sectors.

“We expect these investments and commitments to yield long-term benefits,” Immelt said. “New global sales will be a direct result of these collaborations – safeguarding and growing U.S. jobs while supporting Chinese growth for GE businesses and the Chinese aviation, energy and transportation industries,” Immelt said. These partnerships will also give GE the opportunity to strengthen our own local capabilities, enhancing our ability to serve our Chinese customers as that nation drives its technology initiatives.”

Mark Norbom, GE’s president & CEO for Greater China, said: “The deals we are signing are built upon GE's rapid growth in mainland China in the first three quarters of 2009. They not only represent tremendous growth opportunities for our China platforms but also support jobs in the United States. The partnerships we are building with the Chinese industry leaders will better position GE in strategic growth sectors in China such as aviation, transportation and energy. "
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