General Electric (GE) has selected Cashman Dredging & Marine Contracting Co. LLC, to conduct environmental dredging in the Upper Hudson River in 2011.
This follows an announcement last year that GE would perform the second and final stages of the Hudson dredging project over the next five to seven years.
The size and scope of the Hudson project make it one of the largest and most logistically complex environmental dredging projects ever undertaken in the United States.
GE is in the process of selecting additional contractors to perform monitoring activities during dredging, and reconstruction work following dredging.
GE has one of the best infrastructure franchises worldwide with solid organic growth rates, exposure to favorable secular trends and a large installed base supporting a growing annuity-like services business.
Infrastructure businesses from GE are helping build the energy, health, transportation and technology infrastructure of the new century. These businesses provide the products and services that help developing regions participate in the global economy, while also helping developed regions upgrade with cleaner, more efficient and better infrastructure technologies.
Financial business at GE offers an array of products and services aimed at enabling commercial businesses, consumers and markets worldwide to build a stronger and financially secure future.
The company has adopted strategic imperatives to strengthen its portfolio by building strong growth platforms and generating cash from low-return businesses. Its focus remains on accelerating organic growth and achieving technical and service excellence, while building enduring customer relationships around the world.
GE has products and services ranging from aircraft engines, power generation, water processing, and security technology to medical imaging, business and consumer financing, media content and industrial products. Since its incorporation in 1892, the company has developed or acquired new technologies and services that have broadened considerably the scope of its activities. United Technologies Corporation (UTX) is a major competitor.
We currently have a Neutral recommendation on General Electric.
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