Excerpt:
GE's energy unit, which is buying Converteam, accounted for a quarter of GE's 2010 revenue.
http://www.ge.com/company/leadership/bios_exec/john_krenicki.html
Excerpt:
- John Krenicki, Jr.
Vice Chairman GE President and CEO GE Energy
John Krenicki is vice chairman of GE and president and chief executive officer of GE Energy. This business segment includes Energy Services, Oil & Gas and Power & Water. Prior to his current position, Krenicki served as president and chief executive officer of GE's Energy business, a role he had held since July 2005.
Krenicki's GE career began in the Technical Marketing Program. He soon held a number of leadership roles with GE's chemicals & materials businesses. He then went on to hold a number of other leadership positions at various GE businesses, including vice president of the Americas for Lighting, vice president of Superabrasives and president and chief executive officer of Transportation.
In 2003 he was named a senior vice president of GE and president and chief executive officer of GE's Plastics business. A year later, the Silicones and Quartz businesses were combined with Plastics to form GE Advanced Materials, and Krenicki was named president and chief executive officer. He held this role until 2005.
He is a member of GE's Corporate Executive Council and the GE Capital Board of Directors.
Krenicki earned a B.S. degree in Mechanical Engineering from the University of Connecticut. He received an M.S. degree in Management from Purdue University. He is married with children.
With a world class portfolio of energy infrastructure solutions and leading product brands, Dresser, Inc. is a recognized innovator in the global power and fuel industry. From oil and gas production and processing to power generation and fuel distribution, Dresser, Inc. has been defining and leading energy markets for more than 130 years.
http://en.wikipedia.org/wiki/Converteam
Excerpt:
In 1989 parts of the British General Electric Company plc merged with parts of Compagnie Générale d'Electricité (now Alcatel-Lucent) forming CEGELEC (part of GEC Alsthom), in the same year, a subsidiary of the German Allgemeine Elektrizitäts-Gesellschaft (AEG) had merged with the American Westinghouse Drive Systems.[dubious ][citation needed][improper synthesis?] In 1995, these two groupings merged to form CEGELEC Industrial Systems Group. In 1999, it changed its name to Alstom Power Conversion, then on 10 November 2005, it became a separate company from Alstom.
On 29 March 2011 it was announced that a 90% stake in Converteam was to be bought by GE Energy for $3.2 billion[1].
http://online.wsj.com/article/SB10001424052748703727804576016842389843416.html
Excerpt:
"We believe the future of the industry and the growth of the industry more and more will come from subsea and deep-water projects," which is Wellstream's speciality,Claudi Santiago, president and chief executive of GE Oil & Gas, said in an interview Monday. The U.S. conglomerate is targeting $15 billion in oil and natural-gas revenue, about double last year's level, by 2015.
Wellstream's board rejected a bid from GE in October, but unanimously recommended the latest offer after the U.S. company raised its price.
http://www.alstom.com/Power/
http://en.wikipedia.org/wiki/Marconi_Company
Excerpt:
As the defence division of GEC since 1968 it was renamed GEC-Marconi in 1987, Marconi Electronic Systems (MES) in 1998, which merged with British Aerospace to form BAE Systems in 1999. The Marconi Company should not be confused with the Marconi Corporation which was created in 1999 by the renaming of The General Electric Company (GEC), minus the Marconi Electronic Systems business.
http://www.reuters.com/article/2010/12/04/us-baesystems-sale-idUSTRE6B201V20101204
Excerpt:
Honeywell International (HON.N) and several private equity firms, including the Carlyle Group CYL.UL, were involved early in the process but appear to have dropped out, the sources said.
http://en.wikipedia.org/wiki/BAE_Systems
Excerpt:
BAE Systems plc (LSE: BA.) is a British multinational defence, security and aerospace company headquartered in Farnborough, Hampshire, United Kingdom, that has global interests, particularly in North America through its subsidiary BAE Systems Inc. BAE is among the world's largest military contractors; in 2009 it was the second-largest based on revenues.[3][4] It was formed on 30 November 1999 by the £7.7 billion merger of two British companies, Marconi Electronic Systems (MES), the defence electronics and naval shipbuilding subsidiary of the General Electric Company plc (GEC), and aircraft, munitions and naval systems manufacturer British Aerospace (BAe).
Krenicki's GE career began in the Technical Marketing Program. He soon held a number of leadership roles with GE's chemicals & materials businesses. He then went on to hold a number of other leadership positions at various GE businesses, including vice president of the Americas for Lighting, vice president of Superabrasives and president and chief executive officer of Transportation.
In 2003 he was named a senior vice president of GE and president and chief executive officer of GE's Plastics business. A year later, the Silicones and Quartz businesses were combined with Plastics to form GE Advanced Materials, and Krenicki was named president and chief executive officer. He held this role until 2005.
He is a member of GE's Corporate Executive Council and the GE Capital Board of Directors.
Krenicki earned a B.S. degree in Mechanical Engineering from the University of Connecticut. He received an M.S. degree in Management from Purdue University. He is married with children.
With a world class portfolio of energy infrastructure solutions and leading product brands, Dresser, Inc. is a recognized innovator in the global power and fuel industry. From oil and gas production and processing to power generation and fuel distribution, Dresser, Inc. has been defining and leading energy markets for more than 130 years.
http://en.wikipedia.org/wiki/Converteam
Excerpt:
In 1989 parts of the British General Electric Company plc merged with parts of Compagnie Générale d'Electricité (now Alcatel-Lucent) forming CEGELEC (part of GEC Alsthom), in the same year, a subsidiary of the German Allgemeine Elektrizitäts-Gesellschaft (AEG) had merged with the American Westinghouse Drive Systems.[dubious ][citation needed][improper synthesis?] In 1995, these two groupings merged to form CEGELEC Industrial Systems Group. In 1999, it changed its name to Alstom Power Conversion, then on 10 November 2005, it became a separate company from Alstom.
On 29 March 2011 it was announced that a 90% stake in Converteam was to be bought by GE Energy for $3.2 billion[1].
http://online.wsj.com/article/SB10001424052748703727804576016842389843416.html
Excerpt:
By PAUL GLADER in New York and JAMES HERRON in London
General Electric Co.'s oil-and-gas unit placed another big bet on deep-water oil exploration, agreeing to pay $1.25 billion for the U.K.'s Wellstream Holdings PLC."We believe the future of the industry and the growth of the industry more and more will come from subsea and deep-water projects," which is Wellstream's speciality,Claudi Santiago, president and chief executive of GE Oil & Gas, said in an interview Monday. The U.S. conglomerate is targeting $15 billion in oil and natural-gas revenue, about double last year's level, by 2015.
Wellstream's board rejected a bid from GE in October, but unanimously recommended the latest offer after the U.S. company raised its price.
http://www.alstom.com/Power/
http://en.wikipedia.org/wiki/Marconi_Company
Excerpt:
As the defence division of GEC since 1968 it was renamed GEC-Marconi in 1987, Marconi Electronic Systems (MES) in 1998, which merged with British Aerospace to form BAE Systems in 1999. The Marconi Company should not be confused with the Marconi Corporation which was created in 1999 by the renaming of The General Electric Company (GEC), minus the Marconi Electronic Systems business.
http://www.reuters.com/article/2010/12/04/us-baesystems-sale-idUSTRE6B201V20101204
Excerpt:
NEW YORK |
NEW YORK (Reuters) - General Electric Co (GE.N), Eaton Corp (ETN.N) and private equity firm Warburg Pincus WP.UL remain in the race for BAE Systems Plc's (BAES.L) Platform Solutions unit as the auction reaches the final stage, two people familiar with the matter said on Friday.GE, which has control over the sale process as a major customer of BAE Systems' aircraft engine controls, remains "very interested" in the unit with final bids expected in the next few weeks, the sources said.Honeywell International (HON.N) and several private equity firms, including the Carlyle Group CYL.UL, were involved early in the process but appear to have dropped out, the sources said.
http://en.wikipedia.org/wiki/BAE_Systems
Excerpt:
This article is about the British aerospace and defence company. For other uses, see BAE (disambiguation).
Coordinates: 51°16′25″N 0°46′00″W / 51.27361°N 0.7666667°W
 | |
| Type | Public limited company |
|---|---|
| Traded as | LSE: BA. |
| Industry | Aerospace Information security Defence |
| Predecessor | British Aerospace Marconi Electronic Systems |
| Founded | 30 November 1999 |
| Headquarters | Farnborough, Hampshire, United Kingdom |
| Area served | Worldwide |
| Key people | Dick Olver (Chairman)Ian King (CEO) |
| Products | Civil and military aerospace Defence electronics Naval vessels Munitions Land warfare systems |
| Services | Maintenance, consultancy, training etc. |
| Revenue | £22,392 million (2010)[1] |
| Operating income | £1,505 million (2010)[1] |
| Profit | £1,081 million (2010)[1] |
| Employees | 107,000 (2010)[2] |
| Divisions | See below |
| Subsidiaries | BAE Systems Inc. |
| Website | www.baesystems.com |
BAE Systems plc (LSE: BA.) is a British multinational defence, security and aerospace company headquartered in Farnborough, Hampshire, United Kingdom, that has global interests, particularly in North America through its subsidiary BAE Systems Inc. BAE is among the world's largest military contractors; in 2009 it was the second-largest based on revenues.[3][4] It was formed on 30 November 1999 by the £7.7 billion merger of two British companies, Marconi Electronic Systems (MES), the defence electronics and naval shipbuilding subsidiary of the General Electric Company plc (GEC), and aircraft, munitions and naval systems manufacturer British Aerospace (BAe).
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