GE Taps These New Revenue Sources
General Electric Co. (NYSE:GE) is reaching out to emerging markets in order to get the company to the $1 billion revenue mark.
“Europe is going to be slow growth for a long time. If they allow a bank to bust like what happened here in September 2008, it could be worse. So count on Europe being slow,” said Jeff Immelt, the company’s chief executive.
In the wake of trouble in Europe, GE has turned its attention to markets — including Algeria, Venezuela, South Africa, Turkey, and Peru — that are rich in energy or minerals.
Immelt expects seven countries to generate $1 billion in revenue by 2014. He also said that the company will focus its acquisitions on new data analytics technologies, but that the company’s main priority is increasing dividends, not dealmaking.
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