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GE Power Systems Holds Innovative Global Celebration for Record Breaking Quarter.

Demand for Quality Energy Solutions Increases in 2Q

SCHENECTADY, N.Y., July 18 /PRNewswire/ --

GE Power Systems announced that it is holding a global celebration this week to honor employees, customers and suppliers for their role in helping meet unprecedented global demand for more efficient, more reliable and more environmentally friendly energy. The company recently announced a record 2Q with revenues up 60%.

GE Power Systems is one of the world's leading suppliers of power generation technology, energy services and management systems -- currently supplying more than 15 GW of power around the world. The company's successful quarter reflects an increased global focus on energy products and solutions that effectively meet demand with benefits of conservation, customization and dependability.

"We are entering a new world of energy where reliability and quality are paramount," says Robert Nardelli, President and CEO of GE Power Systems. "Our employees, customers and suppliers have created a global partnership that is focused on providing top-quality energy solutions."

Twenty-eight thousand employees from over 100 business locations around the world will participate in this week's internal celebration. Events include a real-time video broadcast from nine locations globally on GE Power Systems worldwide television network -- PSBN; use of Intranet technology to capture and share photos and steaming video of celebrations around the globe; and localized events.

"A commitment to innovative products that are reliable, efficient and environmentally friendly is solidifying GE Power System's role as the leader in quality energy," adds Nardelli. "Our internal celebration will honor employees, customers and suppliers around the globe -- allowing us to unite, share successes and celebrate our place on the cutting-edge of today's power industry."

Highlights of GE Power System's second quarter include 106 new turbine installations, completion of 800 outages -- helping utilities prepare for peak seasons, the delivery of the first TM2500 portable rental units to Commonwealth Edison in Chicago and the launch of the first cruise ship to be powered by environmentally friendly gas turbine technology for Celebrity Cruise Lines.

GE Power Systems (http://www.gepower.com) is one of the world's leading suppliers of power generation technology, energy services and management systems with 2000 revenue estimated at more than $14 billion. The business has the largest installed base of power generation equipment in the global energy industry. GE Power Systems provides turnkey equipment, service and management solutions across the power generation, oil and gas, distributed power and energy rental industries.
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Publication:PR Newswire
Date:Jul 18, 2000
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