General Electric Company operates as a technology, media, and financial services company. The company offers aircraft engines, power generation, water processing, and security technology to medical imaging, business and consumer financing, media content and industrial products, it serves customers in approximately 100 countries.
Segments:
The companys segments include Energy Infrastructure, Technology Infrastructure, NBC Universal, GE Capital, and Consumer & Industrial. Energy Infrastructure Energy Infrastructure segment engages in the development, implementation and improvement of products and technologies that harness resources, such as wind, oil, gas and water. Its operations are located in North America, Europe, Asia, South America and Africa.
Energy:
The company offers wind turbines as part of its renewable energy portfolio, which also includes solar technology. It also sells aircraft engine derivatives for use as industrial power sources. The company sells gas turbines and generators that are used principally in power plants for generation of electricity and for industrial cogeneration and mechanical drive applications. It provides Integrated Gasification Combined Cycle (IGCC) technology design and development. IGCC systems convert coal and other hydrocarbons into synthetic gas that, after cleanup, is used as the primary fuel for gas turbines in combined-cycle systems. The company sells steam turbines and generators to the electric utility industry and to private industrial customers for cogeneration applications. The company designs and manufactures motors and control systems used in industrial applications primarily for oil and gas extraction and mining. It provides its customers with total solutions to meet their needs through a portfolio of aftermarket services, including equipment upgrades, long-term maintenance service agreements, repairs, equipment installation, monitoring and diagnostics, asset management and performance optimization tools, remote performance testing, and Dry Low NOx (DLN) tuning. In addition, Energy offers water treatment solutions for industrial and municipal water systems, including the supply and related services of specialty chemicals, water purification systems, pumps, valves, filters and fluid handling equipment for improving the performance of water, wastewater and process systems, including mobile treatment systems and desalination processes. Oil & Gas: Oil & Gas supplies mission critical equipment for the global oil and gas industry, used in applications spanning the entire value chain from drilling and completion through production, liquefied natural gas (LNG) and pipeline compression, pipeline inspection, and downstream processing in refineries and petrochemical plants. The business designs and manufactures surface and subsea drilling and production systems, equipment for floating production platforms, compressors, turbines, turboexpanders, high pressure reactors, industrial power generation and a portfolio of auxiliary equipment.
Technology Infrastructure:
Technology Infrastructure provides essential technologies to developed, developing and emerging countries. The companys operations are located in North America, Europe, Asia, and South America. Aviation: Aviation produces, sells and services jet engines, turboprop and turbo shaft engines, and related replacement parts for use in military and commercial aircraft. The companys military engines are used in various aircraft, including fighters, bombers, tankers, helicopters and surveillance aircraft, as well as marine applications, and its commercial engines power aircraft in all categories of range: short/medium, intermediate and long-range, as well as executive and regional aircraft. The company also produces and market engines through CFM International, a company jointly owned by GE and Snecma, a subsidiary of SAFRAN of France, and Engine Alliance, LLC, a company jointly owned by GE and the Pratt & Whitney division of United Technologies Corporation. New engines are also being designed and marketed in joint ventures with Rolls-Royce Group plc and Honda Aero, Inc., a division of Honda Motor Co., Ltd. Aviation also produces global aerospace systems and equipment, including airborne platform computing systems, power generation and distribution products, mechanical actuation products and landing gear, plus various engine components for use in both military and commercial aircraft. The company provides maintenance, component repair and overhaul services (MRO), including sales of replacement parts for models of engines and repair and overhaul of engines manufactured by competitors. These MRO services are often provided under long-term maintenance contracts.
Enterprise Solutions:
Enterprise Solutions offers integrated solutions using sensors for temperature, pressure, moisture, gas and flow rate, as well as non-destructive testing inspection equipment, including radiographic, ultrasonic, remote visual and eddy current. Enterprise Solutions also offers security and life safety technologies, including intrusion and access control, video surveillance and sensor monitoring equipment, fire detection and real estate and property control. In addition, it provides protection and control, communications, power sensing and power quality products and services. Plant automation, hardware, software and embedded computing systems including controllers, embedded systems, advanced software, motion control, operator interfaces and industrial computers are also provided by Enterprise Solutions. Products and services are sold to residential, commercial and industrial end-users, including utilities, original equipment manufacturers, electrical distributors, retail outlets, airports, railways, and transit authorities. During 2009, Enterprise Solutions sold an 81% interest in its safety screening and detection business, GE Homeland Protection, Inc., to SAFRAN. GE also dissolved its joint venture with FANUC Ltd. resulting in GE retaining the global software, services, embedded systems and control systems businesses. Effective January 1, 2010, the retained portion of the GE Fanuc Intelligent Platforms business was included in its newly-created segment, Home & Business Solutions. The Sensing & Inspection Technologies and Digital Energy businesses became part of the Energy business within the Energy Infrastructure segment. Healthcare: The companys product services include remote diagnostic and repair services for medical equipment manufactured by GE and by others, as well as computerized data management and customer productivity services. Transportation; Transportation provides technology solutions for customers in various industries including railroad, transit, mining, oil and gas, power generation and marine. The company serves customers in approximately 100 countries. It also offers drive technology solutions to the mining, transit, marine and stationary, and drilling industries. The companys motors operate various applications, from electrical drive systems for haulage trucks used in the mining industry to transit cars and drilling rigs, and its engines are used for marine power, as well as stationary power generation applications. The company also provides gearing technology for critical applications, such as wind turbines.
NBC Universal:
NBC Universal operates as a diversified media and entertainment company focused on the development, production, and marketing of entertainment, news and information to a global audience. NBCU, which is 80-percent owned by General Electric and 20-percent owned by Vivendi S.A., engages in the production and distribution of film and television programming; the operation of cable/satellite television networks worldwide; the broadcast of network television through owned and affiliated television stations with in the United States; and investment and programming activities in digital media and the Internet. The companys film company, Universal Pictures, engages in the production and distribution of theatrical, home entertainment and television programming. The company owns the theme park Universal Studios Hollywood, operates and holds an ownership interest in the Universal Studios Florida theme parks and brand, designs and develops international theme parks under licenses. The companys cable/satellite television networks provide produced and acquired entertainment, news and information programming to households world-wide. The companys cable/satellite television networks include USA, Bravo, CNBC, SYFY, MSNBC, Oxygen, UniHD, Chiller, Sleuth, mun2 and branded channels across Europe, Asia and Latin America. The NBC television network is a major U.S. commercial broadcast television network. Together, the NBC television network and Telemundo, its U.S. Spanish-language broadcast television network, serve 234 affiliated stations with in the United States. As of December 31, 2009, the company owned and operated 26 television stations each subject to U.S. Federal Communications Commission regulation. It has the U.S. television rights to the 2010 and 2012 Olympic Games, National Football League Sunday Night Football and the Super Bowl in 2012. NBC Universals has operations throughout North America, Europe, South America, and Asia.
GE Capital:
GE Capital offers a range of financial products and services worldwide. Services include commercial loans and leases, fleet management, financial programs, home loans, credit cards, personal loans and other financial service. The companys operations are located in North America, South America, Europe, Australia and Asia. GE Capital includes all of the operations of General Electric Capital Corporation. Commercial Lending and Leasing: CLL provides customers around the world with a range of financing solutions. The company has particular mid-market expertise, and offer loans, leases and other financial services to customers, including manufacturers, distributors and end-users for various equipment and major capital assets. These assets include industrial-related facilities and equipment; vehicles; corporate aircraft; and equipment used in industries, including the construction, manufacturing, transportation, media, communications, entertainment and healthcare industries. During 2009, the company acquired a 100% ownership interest in Interbanca S.p.A., an Italian corporate bank in exchange for the Consumer businesses in Austria and Finland, the credit card and auto businesses in the U.K. and the credit card business in Ireland. In 2009, the company deconsolidated Penske Truck Leasing Co., L.P. (PTL) following its sale of a partial interest in a limited partnership in PTL. Consumer: The company offers a range of financial products to suit customers needs. These products include, on a global basis, private-label credit cards; personal loans; bank cards; auto loans and leases; mortgages; debt consolidation; home equity loans; deposit and other savings products; and small and medium enterprise lending. In 2009, the company completed the sale of its Consumer businesses in Austria and Finland, the credit card and auto businesses in the U.K., and the credit card business in Ireland in exchange for a 100% ownership in Interbanca S.p.A. In 2009, the company completed the sale of a portion of its Australian residential mortgage business. Real Estate: Real Estate offers a range of capital and investment solutions, including equity capital for acquisition or development, as well as fixed and floating rate mortgages for new acquisitions or re-capitalizations of commercial real estate worldwide. The companys business finances, with both equity and loan structures, the acquisition, refinancing and renovation of office buildings, apartment buildings, retail facilities, hotels, parking facilities and industrial properties. The companys typical real estate loans are intermediate term, senior, fixed or floating-rate, and are secured by existing income-producing commercial properties. The company invests in, and provides restructuring financing for, portfolios of commercial mortgage loans, limited partnerships and tax-exempt bonds. The company owns and operates a portfolio of real estate property. It sells certain real estate equity investments. Energy Financial Services: Energy Financial Services offers structured equity, debt, leasing, partnership financing, project finance and commercial finance to the global energy and water industries and invests in operating assets in these industries. Energy Financial Services also owns a controlling interest in Regency Energy Partners LP, a midstream master limited partnership engages in the gathering, processing, transporting and marketing of natural gas and gas liquids. GE Capital Aviation Services: GECAS engages in commercial aircraft leasing and finance, delivering fleet and financing solutions to companies across the spectrum of the aviation industry. The companys product offerings include leases and secured loans on commercial passenger aircraft, freighters and regional jets; engine leasing and financing solutions; aircraft parts solutions; and airport equity and debt financing. The company also co-sponsors an infrastructure private equity fund, which invests in large infrastructure projects, including gateway airports. GECAS also has in its portfolio a range of products including leases, debt and equity investments to the global transportation industry (marine, rail and intermodal). Consumer & Industrial Consumer & Industrial sells and services major home appliances including refrigerators, freezers, electric and gas ranges, cooktops, dishwashers, clothes washers and dryers, microwave ovens, room air conditioners, and residential water systems for filtration, softening and heating. Brands are GE Monogram, GE Profile, GE, Hotpoint and GE Cafe. The company has operations in North America, Europe, Asia, and Latin America. The company manufactures certain products and also source finished product and component parts from third-party global manufacturers. It also manufactures and sells various lamp products for commercial, industrial and consumer markets, including full lines of incandescent, halogen, fluorescent, high-intensity discharge, light-emitting diode, automotive and miniature products. Consumer & Industrial also provides integrated electrical equipment and systems used to distribute, protect and control energy and equipment. The company manufactures and distributes electrical distribution and control products, lighting and power panels, switchgear and circuit breakers that are used to distribute and manage power in various residential, commercial, consumer and industrial applications. The company also provides customer-focused solutions centered on the delivery and control of electric power, and market various commercial lighting systems. Significant Events On March 23, 2010, the company and Umicore announced have completed a technology transfer and signed a technology license agreement to commercialize a proprietary Hydrocarbon Selective Lean NOx Catalyst (HC-LNC) aftertreatment designed to reduce and control diesel engine NOx (nitrogen oxide) emissions for various transportation and stationary applications. In April 2010, General Electric Co. announced the development of a proprietary silver-based Hydrocarbon Lean NOx Catalyst (HC-LNC) aftertreatment solution designed to reduce harmful nitrogen oxide (NOx) emissions from diesel engines. GAMA Holding A.S., a joint venture between GAMA Holding A.S. and General Electric Co. announced their first wind energy projects in Turkey, the 22.5-megawatt Sares and 10-megawatt Karadag wind farms in the country's western region. General Electric Co. and Lake Erie Energy Development Corp. would partner to develop fresh-water offshore wind farm in the U.S. They would install GE turbines at the nonprofit regional economic-development corporation's 20-megawatt project in the Ohio waters of Lake Erie. On May 24, 2010, General Electric Co. and Lake Erie Energy Development Corp. announced a partnership to develop five wind turbines approximately 6 miles (10 kilometers) north of Cleveland Browns stadium. On June 7, 2010, Itochu Corp. and General Electric Co. have entered into a collaboration and cooperation agreement to identify co-investment opportunities in renewable energy worldwide. On July 19, 2010, Doosan Heavy Industries & Construction Co. Ltd. announced that it has agreed with General Electric Co. to jointly develop next-generation turbines for nuclear power generation. Under the agreement, Doosan and the GE would join hands to develop 1,560-megawatt steam turbine generators to be installed in South Korea's next-generation nuclear reactor known as APR+. On August 3, 2010, General Electric Company and Intel Corporation have signed a definitive agreement to form a 50/50 joint venture to create a new healthcare company focused on telehealth and independent living. The new company will be formed by combining assets of GE Healthcare's Home Health division and Intel's Digital Health Group, including remote patient monitoring, independent living concepts and assistive technologies, such as the Intel Health Guide, Intel Reader and GE Healthcare's QuietCare.
