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2014-09-08 17:50:00

GE OIL BUSINESS: $17 BLN, 75%

GE OIL BUSINESS: $17 BLN, 75%

General Electric Co's fast-growing oil and gas business that supplies equipment and services is improving profit margins and is well-placed to outpace industry growth over the next several years, a top unit executive said in an interview.

Spurred by $14 billion in acquisitions since 2007, the oil division's revenue has risen 75 percent to $17 billion since 2009, making it the U.S. conglomerate's fastest-growing industrial business in that period.

But its 12.8 percent profit margin last year trailed by several percentage points GE's other major industrial businesses, such as aviation and healthcare, and GE Chief…

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Tags: GE, OIL, GAS

Chronicle:

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