The Herald, Sharon, Pa.

Business

November 17, 2009

GE announces China deals

GROVE CITY — General Electric Co. announced a package of deals Tuesday with Chinese companies involving rail businesses, aerospace and energy.

GE, which currently runs 36 wholly-owned or joint venture companies in China, did not disclose the value of the deals.

The rail deal involves GE Transportation which signed a “memorandum of understanding’’ to form a joint venture with China’s Ministry of Railways in looking at high-speed rail projects in the U.S.

GE said the collaboration means at least 80 percent of the content of any locomotives or signaling equipment would be created by American suppliers and all final assembly would be performed in the U.S.

This agreement is separate from the once announced Monday where CSR agreed to buy 300 locomotive kits from GE which are produced in Grove City and Erie.

Also announced Tuesday GE Aviation and AVIC Systems will create a global avionics business, based in Beijing, to develop and market products for commercial aircraft customers.

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