GE Oil & Gas announces $600 million investments in Italy

• 8 years ago (2016-02-02)
• David Flin

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GE Oil & Gas has announced the signing of a Memorandum of Understanding for an investment of $600 million over the next five years in Italy. The MoU was signed at a ceremony in Florence attended by: Fererica Guidi, the Italian Minister of Economic Development; Enrico Rossi, the President of Tusancy Region; Jeff Immelt, Chairman and CEO of GE; Sandro De Poli, President and CEO of GE Italia; Lorenzo Simonelli, President and CEO of GE Oil & Gas; and Massimo Messeri, President of Nuovo Pignone.

Jeff Immelt, Chairman and CEO of GE, said: “GE has been in Italy for nearly 100 years, and the agreement underlines our strong commitment to investing and growing our business here. This MoU provides a framework to further enhance the skills of the local workforce and boost research and development in cutting edge technology.”