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GENERAL ELECTRIC COMPANY

(GE)
  Report
Delayed Nyse  -  04:00 2022-09-30 pm EDT
61.91 USD   -1.31%
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GE Power Conversion Partners with Sulzer EMS to Deliver 20% Higher Power Capacity with Synchronous Motor

08/08/2022 | 04:24am EDT

GE Power Conversion, in partnership with Sulzer Electro Mechanical Services (EMS), announced the supply of a custom built synchronous motors for end-user Phoenix Cement Company, which operates under the Salt River Materials Group (SRMG). The motor, a 1,500 hp, 30-pole synchronous motor with collector rings, provides 20% greater power capacity than its predecessor - without causing unnecessary downtime for installation. The original motor was manufactured by GE in 1972 for the Clarkdale Plant in Arizona.

A leading electromechanical service company, Sulzer EMS has been a long-time partner of GE, where together they offer an expansive network of products and technology-driven solutions to help customers operate at maximum efficiency and minimize costly downtime.

End-user Phoenix Cement Company is a top US supplier of portland and masonry cements, fly ash and other pozzolans, aggregates, and natural gypsum products. The new GE motor, which is custom-built for the needs of this specific customer, is equipped with proprietary insulation, and enables Phoenix Cement to meet the increasing demand for cement products in a rapidly growing construction market.

Nationwide, industrial plants feel seismic pressure to replace aging machinery without eating into critical production hours. GE Power Conversion's leading engineering design retrofit capabilities make this possible, empowering the full replacement of machines with zero unnecessary downtime.

"This is a monumental moment for GE Power Conversion and Sulzer EMS," said Rodrigo Elias, GE Power Conversion North America General Manager, Industry and Motors. "Not only is this a testament to our machinery's capabilities, but also to our combined team's ability to meet the customers' specific needs and deliver unparalleled service. We believe this machine will change the way our customer does business, and we're honored to have played a role in their continued growth."

Sulzer EMS President and Global Head of Electro Mechanical Services, Jim Mugford said: "Sulzer EMS is proud to partner with GE Power Conversion and to provide our end-user with one of the most powerful machines on the market. We know our expertise is a value add to our customers and is instrumental in helping them gain a competitive foothold."

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About GE Power Conversion

GE Power Conversion, part of GE Vernova, applies the science and systems of power conversion to help drive the electric transformation of the world's energy infrastructure. Designing and delivering advanced motor, drive, and control technologies that evolve today's industrial processes for a cleaner, more productive future, it serves specialized sectors such as energy, marine, industry, and all related services. www.gepowerconversion.com

About GE

GE (NYSE:GE) drives the world forward by tackling its biggest challenges. By combining world-class engineering with software and analytics, GE helps the world work more efficiently, reliably, and safely. For more than 125 years, GE has invented the future of industry, and today it leads new paradigms in additive manufacturing, materials science, and data analytics. GE people are global, diverse, and dedicated, operating with the highest integrity and passion to fulfill GE's mission and deliver for our customers. www.ge.com

For more information, contact: Kate Inglis, GE Power Conversion, +44 (0) 7766 991040 [email protected] business unit

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(C) 2022 M2 COMMUNICATIONS, source M2 PressWIRE

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Financials (USD)
Sales 2022 75 154 M - -
Net income 2022 354 M - -
Net Debt 2022 13 724 M - -
P/E ratio 2022 -1 990x
Yield 2022 0,52%
Capitalization 67 888 M 67 888 M -
EV / Sales 2022 1,09x
EV / Sales 2023 0,97x
Nbr of Employees 168 000
Free-Float 74,1%
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Number of Analysts 22
Last Close Price 61,91 $
Average target price 88,95 $
Spread / Average Target 43,7%
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Managers and Directors
H. Lawrence Culp Chairman & Chief Executive Officer
Carolina Dybeck-Happe Chief Financial Officer & Senior Vice President
Victor Abate Chief Technology Officer & Senior Vice President
Nancy Anderson Chief Information Officer & Vice President
Francisco D'Souza Independent Director
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