GE, Chinese Partners Sign Agreements to Advance Clean Technologies, Create Jobs;
GE Aviation, AVIC Systems create global avionics business for commercial aircraft
GE Energy, Shenhua Group Corporation to accelerate “cleaner coal” technologies, coal gasification in China
GE Transportation, China’s Ministry of Railways to advance high-speed rail partnership opportunities in the United States
GE Transportation, CSR Qishuyan Locomotive Co. announce diesel engine joint venture
CSR Qishuyan Locomotive Co. agrees to purchase 300 Evolution® Series locomotive assemblies
Ventures will create jobs in both countries, including about 500 in U.S.
(3BLMedia/theCSRfeed) Beijing, China, November 17,2009 – GE (NYSE: GE) and its Chinese partners that represent some of that country’s key infrastructure development goals announced the signing of a series of “Country to Company” agreements aimed at promoting collaboration between GE and Chinese public and private sector aviation, energy and transportation organizations. The announcements, which were made as part of "GE's Clean Technology Week in China" activities, included the formation of two joint ventures – in avionics and locomotive engines; and the parties’ agreements to explore future “cleaner coal” gasification and high-speed rail opportunities.
· Avionics joint venture: GE Aviation and AVIC Systems will create a global avionics business to develop and market integrated systems for commercial aircraft customers. The joint venture, to be headquartered in Beijing, China, plans to offer fully integrated, open architecture avionics and services for future civil aircraft programs. The joint venture, which was announced on Sunday, may create more than 200 U.S. jobs.
· Cleaner coal energy: GE Energy and Shenhua Group Corporation have agreed to a framework for an industrial coal gasification joint venture. GE and Shenhua would conduct research and development on new cleaner coal technologies to improve cost and performance of commercial scale gasification and integrated gasification combined cycle (IGCC) solutions, and jointly pursue the deployment of commercial scale IGCC plants with carbon capture and sequestration. To further progress "cleaner coal" IGCC technology in China, the US Trade and Development Agency (USTDA) announced its intention to fund the initial steps toward a plant in China based on GE's technology.
· Advancing high-speed rail technologies: GE and the China’s Ministry of Railways (MOR) are considering advancing partnership opportunities to pursue high-speed rail projects in the United States. While GE is the world leader in diesel-electric locomotive technology, GE does not currently manufacture locomotives for high-speed rail travel. A successful partnership with the MOR would allow GE to more effectively compete against European and Japanese companies for high-speed rail related opportunities and would create in the near future about 150 high technology jobs in the U.S. and sustain approximately 3,500 U.S. jobs over time – at least 80% of the content would be sourced from, and all final assembly will take place in the U.S.
· Transportation locomotive assemblies order:CSR Qishuyan Locomotive Co., Ltd. agreed to purchase 300 Evolution® Series locomotive assemblies. The agreement helps to sustain nearly 1,200 clean-technology jobs in the U.S.
· Engine joint venture: GE Transportation and CSR Qishuyan will form a joint venture company to develop, build and service GE’s Evolution® Series locomotive diesel engines in China, where there is significant opportunity for modernization. Of the 12,000 diesel locomotives in China, only a small fraction are advanced technology. Also, as demand for the ecomagination™ certified technology increases around the world, the new company would jointly seek future commercial opportunities.
Anu Ramamurty, Corporate and Public Affairs/Edelman