John Rice News

Hyundai Heavy Industries (HHI) has signed an MOU with General Electric Company (GE) to cooperate for the development of GOGES (COmbined Gas turbine Electric and Steam) package for LNG carriers and containerships. The MOU signing ceremony was attended by Choi Kil-seon, chairman and CEO of HHI; Kim Jeong-hwan, COO of HHI’s Shipbuilding Division; Chung Ki-sun, executive vice president of HHI; John Rice, CEO of GE Global Growth & Operations; Tim Schweikert, CEO of GE Marine; Chris Khang, CEO of GE Korea. At the event, the two companies discussed agendas including the technical development progress and economic feasibility of COGES package and joint sales activities at LNG18, an upcoming international LNG conference and exhibition in April in Australia this year.

Indian Prime Minister Narendra Modi invited US-based General Electric (GE) to manufacture ships in India claiming that the country offers immense opportunities for the ship-building sector. Pitching his government's 'Make in India' campaign, he pointed out that India is in a position to export marine defense equipment to other third world countries at cheaper-than-expected rates. GE currently manufactures equipment like engines, which are used in ships, but does not manufacture ships in India. Modi was inaugurating GE’s first-of-its-type multi-modal manufacturing facility at Chakan, Pune. The new $200 million, 250,000 square feet GE plant will manufacture products to service four different industries – wind power generation, aviation, oil and gas and rail transportation.

GE unveiled today its new GE Marine organization which cumulates several GE businesses and will be led by Tim Schweikert, vice president, GE Marine. The new organization brings together GE’s commercial and technological expertise in the marine sector from gas turbines and diesel engines to motors and generators, variable speed drives and drilling systems to automation and control systems and all the electrical equipment in between. GE Marine combines this with system integration capabilities and a global infrastructure—including training and service facilities.

GE Power Systems announced that it has acquired Panametrics Inc., a global leader in high-technology ultrasonic testing equipment and process control instrumentation. The company will become part of GE's Energy Management Services business and will be known as GE Panametrics. Panametrics develops highly specialized, harsh-environment sensors and instruments for nondestructive testing, solar radiation detection and process measurement instrumentation. The company's products include process control instruments; moisture, chemical and gas sensors; multi-phase flow meters; charged particle detectors; ultrasonic transducers and scanning systems for a wide range of applications.