HANOI, Vietnam--(BUSINESS WIRE)--Supporting global growth in power generation, GE Energy (NYSE: GE) is investing approximately US$50 million to build its first manufacturing facility in Vietnam.
The new factory, which will be located near the seaport city of Hai Phong, will produce components for GE's diverse portfolio of power generation equipment. The components produced in Vietnam will be sent to the company's manufacturing and service facilities around the globe for use in finished products.
"The availability of skilled labor combined with strong support from the national and local governments makes Vietnam a very attractive choice for our new manufacturing center," said Lawrence Blystone, vice president of supply chain for GE Energy. "We're pleased to be investing in Vietnam to build this state-of-the-art facility and excited about the opportunity to apply our expertise from the many facilities that we have built and operated around the globe," added Blystone.
"Hai Phong is one of Vietnam's most important seaports and the main industrial center of the north. It is also the third largest city in Vietnam. Access to the Hai Phong seaport offers excellent logistics potential for our new factory," said Kovit Kantapasara, GE Energy's Country Executive for Vietnam.
Construction of the new facility is scheduled to begin by the end of 2007 and the facility is projected to be operational by the end of 2009. When fully operational, the facility is expected to employ more than 400 people.
About GE Energy
GE Energy (www.ge.com/energy) is one of the world's leading suppliers of power generation and energy delivery technologies, with 2006 revenue of $19 billion. Based in Atlanta, Georgia, GE Energy works 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. Numerous GE Energy products are certified under ecomagination, GE's corporate-wide initiative to aggressively bring to market new technologies that will help customers meet pressing environmental challenges.
GE Energy in Vietnam
For more than a decade, GE Energy has been providing technologies for power generation, transmission and distribution and efficiency improvement services supporting power generation projects throughout Vietnam. With an installed base of more than 2,000 megawatts, GE equipment today supplies approximately 18% of the country's power generation capacity.
GE in Vietnam
GE has been active in Vietnam since 1993, supplying products such as commercial aircraft engines, aircraft leasing, locomotives, turbines (gas, steam, hydro, wind), generators, gas compressors, diagnostic equipment, electrical and electronic equipment, lighting, and water treatment chemicals. Additionally, GE Money, a provider of consumer financing services, established an office in Hanoi in August 2006. GE also contributes to local communities through organizations like the GE Foundation, which grants scholarship to university students in Vietnam, and GE Volunteers in Vietnam, which supports local social projects.
Contacts
GE Energy, Atlanta
Miow Sen Yap, +65 6326 3520
[email protected]
or
Masto Public Relations
Ken Darling or Howard Masto, +1 518 786 6488
[email protected]
[email protected]
Britta Kons
GE Healthcare Global Services
[email protected]
1-203-400-1892
