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GENERAL ELECTRIC COMPANY

(GE)
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General Electric Company : Afraid of the Dark? Let GE Help You Keep the Power On

09/04/2013 | 10:22am EST

PARIS-September 4, 2013-How many of us keep a flashlight in the nightstand or a set of matches and candles just in case? Rather than face what goes bump in the night, we reach for something to provide light and power. But, what if you are thousands of kilometers out at sea on a floating production, storage and offloading (FPSO) unit? Each clap of thunder amplified, echoing, each flash of lightening illuminating the line where the dark sea and sky become one, and there are no candles and matches, no flashlight that will keep the power going. Weighing in at 40,000 tons and 200 meters long, there is no good time for a blackout on a FPSO.

GE's Power Conversion (NYSE: GE) business will showcase its latest in electrical house (E-house) technology at Offshore Europe in Aberdeen, U.K., from September 3-6, at booth 5B70. The new energy efficient E-house includes an anti-blackout solution, which is an advanced automation system that manages the electrical power availability and distribution for equipment on FPSOs.

"GE's systems are developed with safety, increased availability and a reduced footprint to provide our customers with reliable, efficient operations that meet the industry's challenges," says Paul English, marine business leader for GE Power Conversion.

GE's technology will provide a robust and reliable power solution in extreme offshore environments that is both cost-effective and efficient. The E-house distribution model is a fully integrated electrical distribution, automation and gateway management in one system as well as optimized with GE's anti-blackout solution and latest in asset management technology allowing for maximized power availability for uninterrupted production.

"We have a strong commitment to tackle these interesting new opportunities, with our innovative technologies and an organization devoted to management of FPSO E-house projects," says Paul English. "We are committed to supporting the future of the offshore industry and are currently developing an integrated FPSO (IFPSO) power pack solution that supports our clients' needs to maximize production and minimize operating costs.

About GE Power Conversion

GE's Power Conversion business applies the science and systems of power conversion to help drive the electrification of the world's energy infrastructure by designing and delivering advanced motor, drive and control technologies that evolve today's industrial processes for a cleaner, more productive future. Serving specialized sectors such as energy, marine, oil and gas, renewables and industry, through customized solutions and advanced technologies, GE Power Conversion partners with customers to maximize efficiency. To learn more, please visit: www.gepowerconversion.com.

Follow GE's Power Conversion business on Twitter @GE_PowerConvers and on Linkedin.

About GE

GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works.www.ge.com.

Follow GE's Energy Management business on Twitter @GE_EnergyMgmt.

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Financials (USD)
Sales 2021 74 907 M - -
Net income 2021 1 021 M - -
Net Debt 2021 12 393 M - -
P/E ratio 2021 152x
Yield 2021 0,31%
Capitalization 113 B 113 B -
EV / Sales 2021 1,68x
EV / Sales 2022 1,56x
Nbr of Employees 174 000
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Number of Analysts 21
Last Close Price 103,16 $
Average target price 124,44 $
Spread / Average Target 20,6%
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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
James S. Tisch Independent Director
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