NEW YORK (Reuters) – U.S. construction of institutional buildings such as schools and government facilities is picking up after years of sluggishness, the chief executive of manufacturer Johnson Controls Inc (JCI.N: Quote, Profile, Research, Stock Buzz) said on Tuesday.
As a large maker of climate control systems, Johnson Controls is one of a swath of industrial manufacturers that depend on non-residential construction for demand for their products.
(Reuters) – United Technologies Corp’s appointment of Chief Financial Officer Gregory Hayes as chief executive is providing investors some comfort as they try to understand the abrupt departure of previous leader Louis Chenevert.
United Technologies shares fell 1.4 percent on Monday after the company announced that Chenevert had stepped down as CEO and chairman effective immediately. The maker of jet engines, elevators and climate control systems gave no public indication of the transition ahead of time, catching Wall Street off guard.
(Reuters) – United Technologies Corp (UTX.N: Quote, Profile, Research, Stock Buzz) Chief Executive Officer Louis Chenevert has retired immediately and is being replaced by the company’s finance chief, the diversified U.S. manufacturer said on Monday, an abrupt change that caught Wall Street off guard.
The maker of Otis elevators, Pratt & Whitney jet engines and Sikorsky helicopters said in a press release that Chenevert, 57, informed the United Tech board of his retirement.
(Reuters) – General Electric Co looking to grow its wind-power business by increasing installations of turbines globally while providing services such as data analytics to improve their performance, a top company energy executive said on Wednesday.
The U.S. conglomerate plans to have a presence with its wind turbine business in 35 or more countries next year, up from eight in 2003.
Nov 19 (Reuters) – General Electric Co looking to
grow its wind-power business by increasing installations of
turbines globally while providing services such as data
analytics to improve their performance, a top company energy
executive said on Wednesday.
The U.S. conglomerate plans to have a presence with its wind
turbine business in 35 or more countries next year, up from
eight in 2003.
NEW YORK (Reuters) – General Electric Co (GE.N: Quote, Profile, Research, Stock Buzz) expects developing markets to be a “huge engine” of growth due to demand for the company’s products that provide infrastructure in these countries, GE’s top international executive said on Wednesday.
GE, which is increasingly focused on industrial products such as jet engines, power turbines and oil and gas equipment, should see double-digit percentage increases in orders in developing countries for the “foreseeable future,” said John Rice, vice chairman and president of GE’s global growth organization.
NEW YORK, Nov 11 (Reuters) – Despite General Electric Co’s
impending sale of its appliances business, the company is
not abandoning the consumer.
The U.S. conglomerate, along with startup invention company
Quirky, on Tuesday revealed seven “connected home” retail
products that allow people to remotely control and monitor such
things as temperature, doors and windows, water leakage and
(Reuters) – General Electric Co Chief Executive Officer Jeff Immelt will personally profit if the U.S. conglomerate reaches certain cash and operating profit margin targets over the next three years.
According to a U.S. securities filing on Monday, the compensation committee of GE’s board granted Immelt 200,000 “performance share units,” or PSUs, that will convert into GE stock at the end of three years based on two equally weighted goals.
Nov 6 (Reuters) – Honeywell International Inc did
not properly classify a uranium hexafluoride leak at its
Metropolis, Illinois, plant last month, according to a U.S.
regulatory event report on Thursday.
According to the report, Honeywell should have classified
the Oct. 26 incident as an “alert,” the less serious of two
official emergency event designations by the U.S. Nuclear
Regulatory Commission, instead of declaring it a “plant
emergency,” which is an internal company classification.
Nov 5 (Reuters) – General Electric Co’s $16.9 billion
purchase of the power assets of France’s Alstom is on
pace for closing in the middle of next year after passing
several steps, the head of GE’s power business said on
The U.S. conglomerate’s biggest-ever acquisition had
encountered fierce resistance from the French state earlier this
year, but Alstom said on Wednesday that the deal won official
clearance from the country’s government, as well as support from
European works councils.