2007-04-20 / Business

G.E. chooses S.C. for annual meeting

By John Temple Ligon Temple@TheColumbiaStar.com

By John Temple LigonTemple@TheColumbiaStar.com

Fairfield, Connecticut- based General Electric, the global manufacturing, financial services and media giant, has a major presence in Greenville. The company employs 2,600, including 1,000 engineers and researchers. GE's annual shareholders meeting is planned for Greenville on April 25, 10 am, at the Carolina First Center, Greenville's largest convention facility.

For the first quarter of 2007, GE reported net earnings of $4.5 billion on revenue of $40.2 billion. Greenville's Garlington Road plant, where GE makes heavy- duty gas turbines for electric power generation, delivered 28% profit growth, as reported in The Greenville News.

Near the end of last year, GE announced an order for 28 turbines from a Saudi Arabian power company. The order is worth more than $950 million, and the turbines are being made in Greenville for shipment to Saudi Arabia. The shipments should be complete before the end of 2008.

Altogether, the Greenville plant should ship 170 gas turbines this year, generating revenue of about $5.7 billion.

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