GE Capital, Franchise Finance announced today that it is providing $15.3 million in financing to a large Hardee’s® franchisee, Paradigm Investment Group, LLC. The credit facility includes a $10.3 million term loan and a $5 million development line of credit.
GE's GE Transportation has announced a Letter of Intent (LOI) with China's Ministry of Railways valued at $1.4 billion, including $350 million for export in locomotives, locomotive sub-assembly kits, service support and railway signaling systems.
These exports have the potential to sustain or create approximately 2,000 high-tech manufacturing jobs in the U.S.
GE Intelligent Platforms today announced that its breakthrough process control solution, Proficy® Process Systems, was chosen by China Baogang Group’s subsidiary Barun Mining Co. Ltd. for use in the company’s iron mining business in China. The company chose GE’s solution to facilitate product quality improvement, optimize production and reduce cost.
China Baogang is one of the largest equipment manufacturers in China, involved in the construction of metallurgical, infrastructural facilities, and other industrial projects. The company also provides geo-technical engineering construction, industrial and civil construction, rock and earthwork excavation, equipment installation, and steel structure fabrication and installation services.
GE Healthcare, Intel Corporation and Mayo Clinic are investigating a new model of health care delivery for patients at increased risk of rehospitalization that is designed to meet patients’ needs where they are, including in their homes.
Mayo Clinic will conduct a yearlong research study to determine if home monitoring of patients with chronic diseases, using Intel’s remote patient monitoring technology, will reduce hospitalizations and emergency department (ED) visits. This study reflects the commitment of GE Healthcare, Intel and Mayo Clinic to develop new patient-centered delivery care models. With the numbers of seniors expected to rise dramatically and increasing numbers of patients experiencing chronic disease, the current focus on face-to-face clinic interaction with the provider is not a sustainable delivery model. Technology could enable new care models to help rein in costs and improve patient outcomes through personalized care and ongoing disease management at home and in the community.
GE is looking for up to 50 new suppliers in metro Detroit to make about $25 million worth of parts for home appliances.
GE is expected to hold a procurement fair in late March or early April to interview and select suppliers. Many of the 200-300 manufacturers invited will be former automotive parts makers looking to diversify. Last June, GE Chairman and CEO Jeff Immelt announced that GE would invest $100 million and create 1,100 jobs at its new center for advanced manufacturing technology and software in Van Buren Township.
GE signed a Memorandum of Understanding (MOU) with the Government of Pakistan today to help promote the modernization of Pakistan’s infrastructure and economy. The agreement focuses on the development of Pakistan’s energy resources to meet projected demand of 54,000 megawatts by the year 2020.
According to the MOU's terms, GE will assist the Government of Pakistan in achieving its goals by engaging in Pakistan's energy, transportation and water sectors and will work to identify potential sources of funding and explore potential investment opportunities in those sectors.
Maintaining momentum in its renewable energy investing, GE Energy Financial Services, a unit of GE, announced today it had made an equity investment in a wind farm CPV Renewable Energy Company is developing in Oklahoma.
GE Energy Financial Services is making a $65 million preferred equity investment to fund construction of the CPV Keenan II wind farm, with an option to invest $100 million more in partnership equity upon commencement of commercial operations.
GE Healthcare today announced the availability of Vscan, a new, pocket-sized visualization tool developed to provide physicians with imaging capabilities at the point-of-care.
Roughly the size of a smart phone, Vscan houses powerful, ultra-smart ultrasound technology that provides clinicians with an immediate, non-invasive method to help secure visual information about what is happening inside the body. Vscan is portable and can easily be taken from room to room to be used in many clinical, hospital or primary care settings.
GE Capital, Corporate Finance today announced it is co-collateral agent for a $300 million asset-based credit facility for Kehe Food Distributors, a leading U.S. distributor of natural and specialty food products. The loan will be used to support the company’s acquisition strategy.
“GE made a significant financial commitment to support our strategic objectives,” said Chris Meyers, CFO of Kehe Food Distributors. “We appreciate working with a lender who is responsive and understands the unique aspects of our business and industry.”
GE declared a regular quarterly dividend in the amount of $.10 per share payable April 26, 2010 to shareholders of record on March 1, 2010. The ex-dividend date is February 25, 2010.
GE is an S&P Dividend Aristocrat. At today''s $15.55 stock price the dividend yield is 2.57%.
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