General Electric Company
) recently announced the construction of its first advanced Power
& Water manufacturing facility in Greenville, SC. The advanced
manufacturing facility, expected to begin operations in 2015, will
likely employ around 80 people at the plant.
By leveraging General Electric's new techniques and production
processes, the new facility will be able to design, test and bring
its products to the market at a faster pace. This facility
capitalizes on $500 million in Power & Water investments and is
an extension to General Electric's commitment to advanced
The new facility will act as a breeding ground for building new
advanced manufacturing processes as well as a rapid prototyping
centre for Power & Water businesses. General Electric plans to
introduce new products to the market in the field of Power &
Water, including wind turbines, heavy duty gas engines, distributed
power gas engines, nuclear power services and water processing.
The facility will be co-located with General Electric's existing
manufacturing site at Greenville. To expand its advanced
manufacturing capabilities, General Electric plans to invest $400
million over the next ten years in Greenville.
General Electric is one of the most diversified technologies and
financial service corporations in the world. The company's segments
include Power & Water, Oil & Gas, Energy Management,
Aviation, Healthcare, Transportation, Home & Business
Solutions, and GE Capital. The Power & Water segment produces
gas, steam and aero derivative turbines; generators; combined cycle
systems; and renewable energy solutions, as well as provide water
treatment services and equipments.
General Electric currently has a Zacks Rank #3 (Hold). Other
stocks that look promising and are worth a look now include
Icahn Enterprises, L.P
Noble Group Limited
), each carrying a Zacks Rank #1 (Strong Buy).
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