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GE booked more power plant orders than rivals in Q1, Reuters reports.

General Electric (GE) booked six orders for its advanced, HA-class turbines in Q1, up from none a year ago, Alwyn Scott of Reuters report, citing three people familiar with the situation and an industry report seen by Reuters. Rival Mitsubishi Hitachi Power Systems booked five orders, while Siemens AG booked four, the sources told Reuters. GE confirmed to Reuters it had booked three additional orders in the first quarter that were not counted in its Q1 earnings report. The three additional units, sold to Tokyo Electric Power in Japan, were included in the McCoy Power Report published on Tuesday, Scott added. However, GE still faces rising competition, complicating CEO Larry Culp's efforts to turn around the company's ailing power unit, he said. [Reference Link]:[https://uk.reuters.com/article/uk-ge-powerplant/ge-books-more-power-plant-orders-beats-mitsubishi-siemens-sources-idUKKCN1SK26W]

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Publication:The Fly
Date:May 14, 2019
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