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GE to Invest $500 Million in Brazil for Accelerated Growth - New Brazil Global Research Center to be located in Rio de Janeiro. GE to Expand Oil & Gas, Clean Energy, Mining and Transportation Businesses. Global Learning Center for Executive Development and Leadership Training Planned
GE to Invest $500 Million in Brazil for Accelerated Growth


NewswireToday - /newswire/ - Rio de Janeiro, Brazil, 2010/11/10 - New Brazil Global Research Center to be located in Rio de Janeiro. GE to Expand Oil & Gas, Clean Energy, Mining and Transportation Businesses. Global Learning Center for Executive Development and Leadership Training Planned. NYSE: GE

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General Electric Company (NYSE: GE) announced today that it plans to invest $500 million (USD) to expand its operations in Brazil and to accelerate technology partnerships with leading Brazilian companies spanning multiple industries. The announcement was made this morning at a news conference in Rio de Janeiro, which was chosen as the home for GE’s newest multi-disciplinary Research and Development Center.

The $100 million Brazil Global Research Center will be located on the Ilha do Bom Jesus peninsula and, when fully operational, will employ 200 researchers and engineers. Work at the center will focus on advanced technologies for the oil & gas, renewable energy, mining, rail and aviation industries.

“For 90 years we have formed strong relationships throughout Brazil with many trusted partners,” said Ferdinando Beccalli-Falco, President and CEO of GE International. “As we look ahead, we see an even brighter future that requires aggressive investment, which will result in more innovation coming to market. Brazil offers GE some of the most sophisticated and aggressive customers in the world. The Brazil Global Research Center will be a hub for deepening relationships that will result in growth for GE, its customers and the country.”

GE has had a presence in Brazil since 1919 and, today, employs more than 6,000 people in the country. The company has operations throughout the country, including São Paulo, Minas Gerais and Rio de Janeiro.

In addition to the new research center, GE plans to invest $400 million over the next three years in technology, training, new product development, new plant and equipment and human capital, including:

• $200 million for new wind turbine and aeroderivative product developments and increased plant capacity for GE’s Energy and Oil & Gas business;

• Capacity expansions and new production facilities for GE’s Healthcare and Transportation, businesses both in Contagem, Minas Gerais; GE Aviation in Petrópolis, Rio de Janeiro State and GE’s Lighting businesses in a yet to be determined location, totaling $200 million;

• $50 million for training and development and the creation of a Global Learning Center to be collocated with the new Brazil GE Global Research Center;

• The creation of 1,000 new GE jobs, spanning all of the company’s businesses;

• Development of new suppliers and partners for more robust, localized production capabilities

Mark Little, Senior Vice President of GE Global Research, said, “Brazil presents tremendous opportunity for growth and increased collaboration with our customers. Over the past decade GE Global Research has expanded our operations in the United States, Asia and Europe. This has allowed our researchers to more effectively collaborate with customers and other technologists around the world to speed the pace of innovation. The Brazil GE Global Research Center is an important part of that strategy.”

In addition to lab space, offices and conference facilities, the 140,000 square foot Center will include a GE Global Learning facility, where GE employees from Latin America will join senior leaders from industry, academia and government to learn and share best practices.

Following finalization of negotiations and architectural design work, construction of the complex should begin in mid 2011 and is targeted for completion in late 2012. The decision to locate the Global Research Center in Rio de Janeiro was made following a thorough site evaluation process that involved input from customers, university partners and government officials. GE selected the Ilha do Bom Jesus location for its available space and because of the efforts of Mayor Eduardo Paes.

Mayor Paes said, “GE’s first facility in Brazil was located in Rio de Janeiro and we are very honored that GE has chosen our city as the home of its new Global Research Center. Innovation and technology development are an important part of the city’s plans for future job expansion and economic growth.”

Sérgio de Oliveira Cabral Santos Filho, Governor of the state of Rio de Janeiro, said, “Job expansion, especially in the technology sector, provides the underpinnings for growth and opportunity in our state and in our country. GE’s investments, including the Brazil Global Research Center, are representative of the types of high-tech operations that we need to ensure that our economy continues to expand.”

GE today also signed agreements with partners, universities and corporations from across Brazil to develop research collaborations. Memos of Understanding were signed with the City of Rio de Janeiro, State of Rio de Janeiro, Federal University of Rio de Janeiro (UFRJ/COPPE), Institute for Technical Research (IPT), Ministry of Science and Technology of the Federal Republic of Brazil, Vale and MRS Logística. GE and Petrobras plan to sign a research MOU tomorrow at the company’s headquarters in Rio de Janeiro.

About GE
GE (NYSE: GE) is a diversified infrastructure, finance and media company taking on the world’s toughest challenges. From aircraft engines and power generation to financial services, medical imaging, and television programming, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's Web site at

About GE Global Growth
GE Global Research is one of the world's most diversified industrial research labs, providing innovative technology for all of GE's businesses. Global Research has been the cornerstone of GE technology for more than 100 years, developing breakthrough innovations in areas such as medical imaging, energy generation technology, jet engines and lighting. GE Global Research is headquartered in Niskayuna, New York and has facilities in Bangalore, India, Shanghai, China and Munich, Germany. Visit GE Global Research at

Caution Concerning Forward-Looking Statements:

This document contains “forward-looking statements” – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance and financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” or “will.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, particular uncertainties that could cause our actual results to be materially different than those expressed in our forward-looking statements include: current economic and financial conditions, including volatility in interest and exchange rates, commodity and equity prices and the value of financial assets; the impact of conditions in the financial and credit markets on the availability and cost of General Electric Capital Corporation’s (GECC) funding and on our ability to reduce GECC’s asset levels as planned; the impact of conditions in the housing market and unemployment rates on the level of commercial and consumer credit defaults; changes in Japanese consumer behavior that may affect our estimates of liability for Grey Zone claims; our ability to maintain our current credit rating and the impact on our funding costs and competitive position if we do not do so; the adequacy of our cash flow and earnings and other conditions which may affect our ability to pay our quarterly dividend at the planned level; the level of demand and financial performance of the major industries we serve, including, without limitation, air and rail transportation, energy generation, network television, real estate and healthcare; the impact of regulation and regulatory, investigative and legal proceedings and legal compliance risks, including the impact of financial services regulation; strategic actions, including acquisitions, joint ventures and dispositions and our success in completing announced transactions and integrating acquired businesses; and numerous other matters of national, regional and global scale, including those of a political, economic, business and competitive nature. These uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.

PRESS Contacts
Leigh Farris, GE
P: 203 373 2599 / 203 551 1863 (mobile)
E: leigh.farris[.]

Todd Alhart, GE Global Research
P: +1 518 387 7914 / +1 518 338 5880 (mobile)
E: alhart[.]

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GE to Invest $500 Million in Brazil for Accelerated Growth

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