Friday, April 16, 2010
GE Expects a $1.2 Billion Order From Iraq
NEW YORK
-- General Electric Co. said Friday it's seeing more industrial equipment demand from overseas as the global economy recovers, with Iraq committing to a $1.2 billion order for the second quarter. "We had $17.1 billion in orders" for the first quarter, said Chief Executive Jeff Immelt on a post-earnigns call with analysts. "The backlog is stable...We've got a strong pipeline of commitments and a lot of our new orders are coming from outside the United States." Immelt didn't provide details on the Iraqi order, but in the past the country has ordered power-generation equipment from the Fairfield, Conn., conglomerate.
Copyright
2010 MarketWatch, Inc.
GE Expects a $1.2 Billion Order From Iraq
NEW YORK
-- General Electric Co. said Friday it's seeing more industrial equipment demand from overseas as the global economy recovers, with Iraq committing to a $1.2 billion order for the second quarter. "We had $17.1 billion in orders" for the first quarter, said Chief Executive Jeff Immelt on a post-earnigns call with analysts. "The backlog is stable...We've got a strong pipeline of commitments and a lot of our new orders are coming from outside the United States." Immelt didn't provide details on the Iraqi order, but in the past the country has ordered power-generation equipment from the Fairfield, Conn., conglomerate.
Copyright
2010 MarketWatch, Inc.