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: http://moneywatch.bnet.com/economic-news/news/ge-to-buy-most-of-converteam-in-32b-deal/6208011/?tag=content;col1
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