general electric co (GE) Key Developments
Sulzer And DRC In Merger Talks
Sep 17 14
Sulzer, Ltd. (SWX:SUN) said that it is in talks on a potential tie-up with Dresser-Rand Group Inc. (NYSE:DRC) a move that may trigger rival offers from other potential suitors. "Sulzer has confirmed that it is engaged in non-exclusive discussions with Dresser-Rand regarding a potential transaction," Sulzer said in a statement. "There can be no assurance that a transaction will result from these discussions, and Sulzer does not intend to comment further unless and until an agreement is reached," Sulzer said." A rich cash bid will likely be seen as far more attractive than a stock merger of Sulzer and Dresser Rand," one of the sources said, adding that no proposal from another group had emerged so far. Rivals such as Siemens Aktiengesellschaft (DB:SIE) and General Electric Company (NYSE:GE) may now emerge with a competing offer for DRC, sources familiar with the situation said. Sulzer shares were up 1.7%. DRC shares were up more than 7%.
General Electric Company, Ferus Natural Gas Fuels Fueling Services and Statoil ASA Announce Flare Gas Expansion Project
Sep 16 14
General Electric Company, Ferus Natural Gas Fuels fueling services and Statoil ASA have announced the expansion of a pilot project to capture flare gas and use it to power up to six of Statoil's drill rigs and one frac fleet in North Dakota. The expansion is the first step by Statoil to move into full commercial adoption of the GE and Ferus NGF joint venture's Last Mile Fueling Solution (Last Mile), which is expected to reduce emissions and provide cost-savings and logistics solutions for the company's Bakken oilfield operations. Statoil's Last Mile pilot project has been in place for approximately eight months near Watford City, North Dakota. During this time, it has been capturing natural gas that would otherwise be flared, and has used it instead to assist power for its oil and gas operations. The company anticipates this new commercial expansion will increase its flare gas capture to between 3 and up to 5 million standard cubic feet per day (scfd) by the end of 2014, equating to GHG emissions reductions of between 120,000 and up to 200,000 metric tons per year, or the equivalent of removing between 25,000 up to 45,000 cars from the road.
General Electric Company Announces Availability of Multilin 869 Motor Protection System
Sep 16 14
General Electric Company has announced the availability of the Multilin 869 Motor Protection System designed for the protection, control and management of medium and large induction and synchronous motors. The Multilin 869 joins the Multilin 850 feeder protection system to create a common product platform that will enable industrial and distribution utilities to enhance the reliability of multiple different assets in their electrical infrastructure and reduce costs associated with unplanned outages. As part of the Multilin 8 Series platform family, originally announced in September 2013, the Multilin 869 delivers high-speed protection and control features and easy-to-use tools for faster motor configuration and startup helping operators get the Multilin 869 configured quickly. The system also generates motor functioning reports which facilitate quick and easy identification of potential motor issues and any needed corrective action to help operators minimize motor failures and limit unplanned downtime. Should a failure occur, the Multilin 869 also provides enhanced motor failure-mode analysis through broken rotor bar detection and stator turn-turn fault enabling operators to quickly identify a repair plan.
Clarke Energy Supplies GE's 616 Diesel Engines to Flour Mills of Nigeria
Sep 12 14
GE's distributed power business has announced that Clarke Energy, is supplying GE's new 616 diesel engines to Flour Mills of Nigeria plc. Two of the units will be used at the Kano facility in northern Nigeria, where natural gas access is limited and older, less-efficient diesel units have been used in order to maintain power for production. The new GE engines will deliver 5 MW of base load electrical power, with an expected capital payback in less than 12 months on diesel fuel cost savings alone. The other three GE engines will be at Flour Mills' facility in Apapa, Lagos, and the same city in which Clarke Energy opened its first sub-Saharan Africa site nearly a decade ago. This site already features 11 of GE's J620 gas engines, and the diesel units will provide backup power generation capacity in the event of maintenance on the site's existing power generation equipment or in the event of a gas supply failure.
GE Global Growth & Operations Presents at The Myanmar Global Investment Forum, Sep-16-2014 09:40 AM
Sep 11 14
GE Global Growth & Operations Presents at The Myanmar Global Investment Forum, Sep-16-2014 09:40 AM. Venue: Myanmar International Convention Center 2, Nay Pyi Taw, Myanmar. Speakers: Prakash Chandra, Chief Financial Officer.