GE Infrastructure sees 10 to 15 percent growth

SINGAPORE - General Electric Co's infrastructure unit, GE Infrastructure, said it will maintain its business growth forecast of 10-15 percent for 2008, despite rising costs.

Chief Executive Officer John Rice said he expected rising inflation and higher commodity prices to be challenges but said demand for GE's products and services was still strong.

"We are providing critical products and services to companies and countries who are mining and selling commodities. Demand for these products have surged with the increase in commodities costs," Rice said in an e-mail interview.

"Demand for our products continues even as we have to raise prices due to raw material costs going up," he said, ahead of his visit to Singapore for an industry conference.

"We are focusing on reducing our expenses, and... finding ways to cut costs by managing our supply chain, controlling costs and improving efficiencies," he said.

GE Infrastructure makes engines, electrical turbines and water purification plants and also provides financial services.

Related News

coal plant sunset

Looming Coal and Nuclear Plant Closures Put ‘Just Transition’ Concept to the Test

WASHINGTON - The coronavirus pandemic has not changed the grim reality facing workers at coal and nuclear power plants in the U.S. and Europe. How those workers will fare in the years ahead will vary greatly based on where they live and the prevailing political winds.

In Europe, the retirement of aging plants is increasingly seen as a matter of national concern. Germany this year agreed to a €40 billion ($45 billion) compensation package for workers affected by the country's planned phaseout of coal generation by 2038. Last month the Spanish authorities agreed on a just transition plan affecting 2,300 workers…

READ MORE
electricity prices

U.S. residential electricity bills increased 5% in 2022, after adjusting for inflation

READ MORE

Substation Maintenance Training

Substation Maintenance Training

READ MORE

offshore wind turbines

U.S. Electricity and natural gas prices explained

READ MORE

solar panel on roof of home

High Natural Gas Prices Make This The Time To Build Back Better - With Clean Electricity

READ MORE