Recent News: GE Gas Turbines, Jet Engine Demand, Bob Nardelli, GE Money, GE Commerical Finance, and GE Fanuc

IEC picks GE gas turbines despite higher cost: IEC: Siemens did not meet the tender terms
Sources inform "Globes" that Israel Electric Corporation (IEC) wants to buy gas turbines from General Electric Company for its Ramat Hovav power station even though it received cheaper bids from Siemens AG. However, some IEC executives question this position ahead of the board of directors' final decision on the issue next month...

Jet engine demand soaring at GE plant
Strong demand for jet engines helped to propel General Electric Co. to a 15 percent profit increase in the fourth quarter, the company recently reported...

ACT 3: Nardelli follows script from Home Depot, GE
Think of it as "Nardelli, the Sequel." And like in many big-budget follow-ups, Bob Nardelli, six months into his role as Chrysler LLC's top executive, is following much of the same storyline from his days of running Home Depot. Both at Home Depot and Chrysler, General Electric veteran Nardelli set out to rapidly change corporate culture by shaking up the top executive ranks and bolstering the role of the human resources department. He put greater emphasis on inventory management and customer satisfaction and working to expand global operations...

GE Money seeks ally for mortgage business
GE Money India is looking for a strategic partner to drive scale just as it did with the State Bank of India (SBI) for its card business. It is trying to replicate its card model in its joint venture with Wizard Home Loans, a non-banking finance company from Australia...

GE Sensing acquiresRheonik Coriolis meters
GE Sensing and Inspection Technologies is to acquire Rheonik, a leading manufacturer of high accuracy Coriolis mass flowmeters used in the oil and gas, process and power industries...

GE Acquires Sole Ownership of East Asia GE Commercial Finance
GE Commercial Finance today announced that it has entered into a definitive agreement to become the sole shareholder of East Asia GE Commercial Finance (EAGE). In 2001, GE acquired a 50 percent equity interest in EAGE. Under the terms of the new definitive agreement, EAGE, with the support of GE, will repurchase the remaining 50 percent of its outstanding equity interest from Bank of East Asia. Acquiring sole ownership of EAGE is a key step towards executing GE's long-term strategy for the Greater China market...

GE CNC units programmed directly onsite
With Manual Guide i, the current Fanuc GE CNC controllers can be directly programmed onsite in a simple manner - regardless of whether turning, milling or combining machining processes...