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
Nonstop Records For U.S. Natural-Gas-Based Electricity
WASHINGTON - As the hot months linger, it will be natural gas that is leaned on most to supply the electricity that we need to run our air conditioners and keep us cool.
And this is surely a great and important thing: "Heat causes most weather-related deaths, National Weather Service says."
Generally, U.S. gas demand for power in summer is 35-40% higher than what it was five years ago, with so much more coming (see Figure).
The good news is regions across the country are expected to have plenty of reserves to keep up with power demand.
The only exception is ERCOT, covering 90%…
