General Electric's vice chairman John Rice has confirmed GE's 2012 outlook and expectations for continued double-digit revenue growth from its Industrial and Capital segments in its global growth regions in 2012 and 2013. "The world needs more power (...) to meet the needs of growing populations and an emerging middle class," Rice said at an investor meeting today.
GE aims to capitalize on this long-term growth dynamic through its technological innovations, geographic scale, services, and balanced capital allocation.
Reinforcing GE's drive for investment, Rice said the company would continue to invest in size and scale to optimize GE's global and local capabilities. "We have established a significant foundation for continued growth, not only in the BRIC countries, but also in markets positioned for the next generation of growth. By 2025, these growth markets will constitute 50% of world GDP," he said.
GE anticipates 20-25% growth in Resource Rich regions such as Latin America, Australia & New Zealand, the Middle East and Africa. GE expects 10-15% growth in Rising Asia - China, India and the Association of Southeast Asian Nations (ASEAN).
In 2011, GE's revenue grew in China by 29%, in Latin America by 36%, in Sub-Saharan Africa by 14%, and in Australia & New Zealand, by 67%.
At today's investors meeting, regional GE chief executives discuss growth opportunities in GE's key business sections, namely distributed power; mining; oil and gas; rural and remote healthcare; transportation; and opportunities from promising new partnerships.
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