WASHINGTON, Sept. 16, 2011 /PRNewswire-USNewswire/ — The
U.S.-Russia Business Council is pleased to announce that General
Electric (GE), a USRBC member, finalized agreements today to
establish two new joint ventures in Russia. These joint ventures
bolster GE’s position in one of the world’s fastest-growing markets
while enhancing Russia’s power generation and healthcare
sectors.
Under the new ventures, which could drive more than US$10
– 15 billion in sales, GE will sell at least 77 gas turbines
and thousands of high-tech medical diagnostic units in Russia and
the former CIS countries. The company signed the energy joint
venture with INTER RAO UES and United Engine Corporation (UEC);
GE’s partner in the health care joint venture is with RUSSIAN
TECHNOLOGIES. Russian Prime Minister Vladimir Putin and GE
CEO Jeffery Immelt attended the signing ceremony at the 10th
International Investment Forum in Sochi, Russia.
“These JV agreements demonstrate the growing potential for
collaboration between U.S. and Russian companies,” said USRBC
President Ed Verona. “We are delighted to see that GE is
reaffirming its long-term commitment to the Russia market. It is
also important to point out that these new ventures will sustain
jobs in the United States, as the gas turbines GE will produce in
Russia do not compete with U.S.-made models and 20 percent of the
components of the high-tech diagnostic units will be made in the
United States. Today’s announcement by GE is another clear
example of the strong commercial ties between the U.S. and
Russia.”
The U.S.-Russia Business Council (USRBC) represents the
interests of its 250 U.S. and Russian member companies, providing
business development and government relations support in both
Moscow and Washington. The USRBC contributes to the stability
and development of a free market in Russia and supports Russia’s
integration into the global economy. It also serves as the
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