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

uk wind farm

UK windfarms generate record amount of electricity during Storm Malik

GLASGOW - The UK’s windfarms generated a record amount of renewable electricity over the weekend as Storm Malik battered parts of Scotland and northern England.

Wind speeds of up to 100 miles an hour recorded in Scotland helped wind power generation to rise to a provisional all-time high of more than 19,500 megawatts – or more than half the UK’s electricity – according to data from National Grid.

National Grid’s electricity system operator said that although it recognised the new milestone towards the UK’s ‘net zero’ carbon future, it was “also thinking of those affected by Storm Malik”.

The deadly storm caused widespread…

READ MORE
nuclear reactors at Hinkley Point in Somerset

Hinkley C nuclear reactor roof lifted into place

READ MORE

clean electricity standard

Reconciliation and a Clean Electricity Standard

READ MORE

Washington County planning officials develop proposed recommendations for solar farms

READ MORE

Why Fort Frances wants to build an integrated microgrid to deliver its electricity

READ MORE