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General Electric - 320 mln dollars profit, in Romania

General Electric (GE), one of the largest company in the world according to stock exchange capitalization, reported in 2007 on the Romanian market revenues derived from sales of approximately 320 million dollars, stated on Tuesday, February 26, in an interview given to Business Standard, GE director general for Romania, Bulgaria and the Republic of Moldova, Cristian Colteanu.

Revenues in this region almost doubled in 2007 compared to 2006, revealed Colteanu. GE revenues from sales in Romania, Bulgaria and in the Republic of Moldova stood in 2007 at some 400 million dollars (270 million euros), and 80 percent of them were made in Romania. According to Cristian Colteanu, company's double revenues was also due to the increase in the number of GE divisions present on the domestic market. The American giant is to focus in 2008 on company acquisitions or partnerships in key fields, such as medical, infrastructure and transports, real estate and energy sectors, as well as financial services sector. As well, the company will integrate the recent acquisitions and will consolidate its presence on the aforementioned markets. As for the financial services segment, GE almost finalized the integration process of Motoractive, Ralfi SA (Estima Finance) and Domenia Credit and is to start a re-branding process, according to the results of an ongoing evaluation. Colteanu also reminded that GE is a shareholder of Garanti Bank, also active on the Romanian market. As for the aircraft engine production, Colteanu stressed that Turbomecanica Combustor Products business, taken over by GE in a proportion of one hundred percent, was renamed Unison Engine Components, adding that GE examines the likelihood of developing a production basis in Romania. As for the real estate side, the American giant will concentrate on the development of warehouses and logistic platforms and is examining several opportunities to this end in the territory. GE official also underlined that almost all GE divisions are present on the Romanian market and reminded that, on the media segment, there is already the television channel NBC. GE executive director for Romania, Bulgaria and Republic of Moldova announced that a contract between GE-Metka and Petrom for the construction of a power station based on gas at Petrobrazi, investment evaluated at some 500 million euros, is in the final negotiation stage. On the energy segment, as well, GE targets a cooperation with Nuclearelectrica, operator of Cernavoda Nuclear Power Station (south-east), for the supply of equipment destined to the construction of nuclear reactors 3 and 4. Sursa: http://www.rompress.ro

Tags: colteanu romania dollars general

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