New Contracts and Project Updates - Report on General Electric Company

Jul 23, 2015, 09:00 ET from www.aciassociation.com

NEW YORK, July 23, 2015 /PRNewswire/ --

ACI Association has initiated research coverage on General Electric Company (NYSE: GE). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.

Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/?c=GE

Highlights from our GE Report include:

  • Signing of New Contract -- On July 20, 2015, General Electric Company's GE Oil & Gas announced a new contract with Spain's Leading Oil Storage and Transportation Firm CLH Group to provide remote monitoring and diagnostics for CLH Group's centrifugal pump fleet in its plants in Mora, Adamuz, Loeches, Monzalbarba and Torrejon in Spain. GE highlighted that the contract will introduce the first remote centrifugal pump monitoring to be applied in those facilities, thus optimizing machine performance with analytics. GE informed that the 24/7 system will collect and transfer data from CLH sites to the GE Oil & Gas Monitoring and Diagnostics Center where the pumps' performance, along with identification anomalies will continuously be analyzed.
  • A Note From the Management -- Commenting on the project Roberto Baccani, General Manager of Pumps, Valves and Systems (PVS) business, GE Oil & Gas said,"This project will introduce our OEM expertise and analytics into the operations of CLH Group's plants, by providing them with remote monitoring and diagnostics to keep their pumping systems running better and longer. We believe these kinds of arrangements can really help customers like CLH realize better value in their processes and we look forward to getting the system running and starting to see results in the coming months."
  • Attainment of Project Milestone -- In another release dated July 20, 2015; GE Oil & Gas announced the shipment of two liquefied natural gas (LNG) compressor trains, supplied for the development of Dominion's Cove Point LNG Export facility. The Company informed that the LNG facility which is under construction is located on the Chesapeake Bay in Lusby, Maryland. As per the release, when completed in late 2017 the LNG liquefaction plant will produce about 5.25 million metric tons of liquefied natural gas annually and will be the first LNG terminal capable of exporting LNG on the U.S. East Coast. GE added that each of the two identical trains includes a FR7 Gas Turbine, three centrifugal compressors (3MCL1405, MCL1405, 2BCL806) and a 20-megawatt 2 pole induction electric helper motor provided by GE's Power Conversion business.

To find out how this influences our rating on General Electric Company read the full report in its entirety here: http://www.aciassociation.com/?c=GE

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