GE to Expand in China

Filed in archive News on April 18, 2008

GE thinks it can make money in China - more money than the $4.4 billion it made in 2007. And since Chairman and C.E.O. Jeffrey Immelt just announced its worst quarter of financial results in five years, making money looks to be high on the company's agenda at the moment...

The China Economic Review carried a report recently on General Electric's plans to commit around US$2 billion in acquisitions and other investment deals in China over the next three years.


© World Resources Institute Staff





Steve Bertamini, chairman of GE's Greater China operations, was quoted as saying that the increased investment was part of plans to more than double the company's China revenues - from the US$4.4 billion recorded in 2007 to US$10 billion by 2010. Bertamini said he was looking to hire a team of 20 in-house dealmakers to handle investments in China, which he said would include buyouts as well as joint ventures, according to the China Economic Review.

With GE's good record on clean technology and Beijing's new emphasis on environmental issues, the company may be able to find its way into some sweet deals in the coming years...