Saturday, April 2, 2011

GE to buy most of Converteam in $3.2B deal

by Associated Press | Mar 29, 2011  
NEW YORK (AP) — General Electric Co. said Tuesday it will spend $3.2 billion for a controlling stake in French equipment developer Converteam as it continues to position itself as a major player in what's expected to be a 20-year boom in oil and natural gas demand.
GE Energy CEO John Krenicki said the Fairfield, Conn., industrial giant wants to take advantage of a rebound in petroleum drilling and natural gas exploration. Demand for natural gas, which emits less carbon dioxide than other fossil fuels, is expected to climb in coming years

read more:;col1

No comments:

Post a Comment