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GE Energy Opens Russian Technology Complex to Bring Energy Solutions Closer to Customers Throughout the Region

^{Published on 2010-11-08 11:20:17 - Market Wire}
 

MOSCOW--([ BUSINESS WIRE ])--Bringing its business closer to its customers throughout the region, GE (NYSE: GE) today celebrated the grand opening of its Energy Technology Center in Russia, located 180 kilometers outside of Moscow in the Kaluga Region. The new technology center will manufacture and service advanced power generation equipment throughout the region, helping customers keep their power plants running more reliably and efficiently. A report by the World Bank Group estimated that realizing its full energy efficiency potential could save Russia up to $80 billion annually.

"Russia is an energy powerhouse and central to our strategy short, medium and long term"

The creation of the Kaluga Energy Technology Center supports GEa™s strategy to tailor many of GE Energya™s products and services for the local market while growing the businessa™ base of highly skilled engineers in the country. These activities were designed to align with Russiaa™s technological and energy modernization goals.

The grand opening was attended by John Krenicki, GE vice chairman and president and CEO of GE Energy; Anatoly Dmitrievich Artamonov, governor of the Kaluga Region; and other key representatives from the Russian government and the U.S. Embassy.

aThe opening of GEa™s Energy Technology Center in Kaluga is a significant example of a successful partnership between Russia and foreignbusiness in thehigh-tech arena and will create additional employment opportunities in the region,a said Governor Artamonov. aWe are glad tosupport GE Energy in its contribution to one of Russiaa™s most important prioritiesa"to increase energy efficiency in the power generation sector. I wish GE every successas they help Russia move towards achieving this objective.a

Through the new center, GE will further expand its footprint in Russia and provide opportunities for local employment and training in high-tech engineering jobs. By the end of 2010 GE Energy plans to have approximately 300 employees in Russiaa"with future plans for significant expansion.

aRussia is an energy powerhouse and central to our strategy short, medium and long term,a said Krenicki. aThe opening of the Energy Technology Center underscores GEa™s commitment to invest in the future of Russia and its people. It is a key part of our strategy to support our customers in Russia with the latest technologies and services across the full spectrum of the energy landscape, including power generation, water, energy services and oil and gas. It also supports our global initiative to invest and expand our presence in promising growth regions worldwide. We are accelerating the localization of our capabilities to better compete and partner for success.a

The Kaluga Technology Center follows the dedication last week of GE Energya™s Oil & Gas Technology Center in Boufarik, Algeria.

GE signed the agreement to construct the technology center in March 2009 with the government of the Kaluga region, the Kaluga Region Development Corporation and the administration of Kaluga City. The finished facility has opened just 20 months later. Supporting the concepts of energy efficiency and environmental responsibility, the Energy Technology Center features fresh-filtered air systems, heat-reflecting windows and water-saving technologies.

The Energy Technology Center will offer innovative products and services that are tailored to meet the specific needs of customers in the region. Initially, the new center will offer services for GE power generation equipment that is installed in Russia and the CIS. In later phases, the facility will add manufacturing capabilities, to support GEa™s growing presence in the Russian energy sector. The site has room for significant expansion and may include other GE business units in the future.

The Kaluga facility is one of twelve GE Energy technology centers located around the globe. GE has been active in Russia since the 1920s and today offers a full range of products and services for the countrya™s energy sector, from oil and gas exploration and production through power generation.

About GE

GE (NYSE: GE) is a diversified infrastructure, finance and media company taking on the worlda™s toughest challenges. From aircraft engines and power generation to financial services, health care solutions and television programming, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's website at [ www.ge.com ].

GE serves the energy sector by developing and deploying technology that helps make efficient use of natural resources. With nearly 85,000 global employees and 2009 revenues of $40 billion, GE Energy [ www.ge.com/energy ] is one of the worlda™s leading suppliers of power generation and energy delivery technologies. The businesses that comprise GE Energya"GE Power & Water, GE Energy Services and GE Oil & Gasa"work together to provide integrated product and service solutions in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; and other alternative fuels.