GE Marine, a part of General Electric Company GE, recently announced that it will supply marine Diesel engines to Reinauer Transportation Companies, LLC – a maritime leader in petroleum and chemical transportation.
Per this agreement, GE Marine will supply two GE U.S. Environmental Protection Agency (EPA) Tier 4 certified marine diesel engines and two Lufkin Marine Propulsion Gearboxes for Reinauer’s new Articulated Tug & Barge (ATB), which is scheduled to be commissioned in 2016. Lufkin is an integral part of GE Oil & Gas, an operating segment of General Electric.
The new engines and gearboxes are much more competitive than other solutions available in the market and reduce approximately 75% of the engine room space and weight compared to rival products. The robust design and component configuration of these engines make it a preferred choice for customers. These engines require no Selective Catalytic Reduction (SCR) after-treatment or urea injection, which helps customers minimize the infrastructure costs. Lufkin gearboxes have also been well recognized for their reliability and ruggedness. Such lucrative purchase orders serve well for GE Marine and are likely to augment its revenues.
General Electric, the parent company of GE Marine, is one of the largest and most diversified technology and financial services corporations in the world. Its product and service portfolio ranges from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and industrial products. Its segments include Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Home & Business Solutions and GE Capital.
General Electric currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look in the industry include Compass Diversified Holdings CODI, ESCO Technologies Inc ESE and AO Smith Corp AOS, each carrying a Zacks Rank #2 (Buy).
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