January 20, 2012

GE Transportation reports profit surge for 2011

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REVENUE for GE Transportation soared by 45% last year to $US 4.9bn compared with 2010, while profits for the year more than doubled from $US 315m in 2010 to $US 757m.
This impressive result was despite a 7% drop in orders in 2011 to $US 4.6bn due to the signing of a multi-year contract in 2010.

"In 2011 we invested heavily in leading transportation products that drive sustainable infrastructure development in the rail, mining and other industries around the globe," says GE Transportation's president and CEO, Mr Lorenzo Simonelli. "We staffed for growth and expanded our manufacturing capabilities worldwide. We are well-positioned to capitalise on growth opportunities in 2012."

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