Brazilian operation of GE has a 53% growth in 2011

GE assured the best performance of its operations in Brazil in 2011 since the start of its activities over 90 years. In 2011, GE do Brasil made US$3.7 billion, a 53% growth in comparison with the US$2,4 billion recorded in 2010.

Company’s initial estimative was 30% of growth in the revenue. By means of a release, the Company informed that, only for industrial business, the growth was higher, reaching 63% in the annual comparison.

The numbers were presented during the event that gathered Company’s investors and businesspersons together today, in Rio de Janeiro. The Company’s Vice-President, John Rice, came to Brazil to discuss the Company’s perspectives in emerging markets for the next years.

Latin America also presented an important expansion for GE’s operation. In Colombia, an increase of 129%; Chile recorded an increase of 64%; the operations in Mexico increased 30% and the expansion in Argentina was 12%.

According to GE, the order number from its portfolio had a growth, totalizing US$12 billion. Brazil recorded an increase of 46% (US$42 billion) accumulated throughout the year regarding order numbers.

In 2010, we announced the highest investment in GE’s history: US$570 million up to 2013, affirmed Reinaldo Garcia, Company’s CEO for Latin America.

However, according to the Company, in order to support the growth of 53% in Brazil, GE Energy donated US$ 1.7 billion for new commitments with wind projects and gas turbines in the country. A Letter of Intent was also signed between the Company’s Power division in North America and the Government of Bahia to install a turbine’s plant to generate wind power with investments around US$24.76 million (R$ 45 million).

Yet, GE Transportation’s unit delivered the 1,300th locomotive last year. To reach this mark, GE’s rail transportation division invested US$10 million on the Contagem’s (MG) plant to double its operation, which counted on a production capacity of 60 locomotives a year.

Last year, GE Transportation delivered 110 locomotives. According to the Company, to hold up the industry’s growth, the investment expectation for Contagem’s unit is to overcome the US$35 million up to 2013.