The year 2012 was a record setter for G-E Transportation. Profits crossed the $1.0 billion mark, up from $757 million in 2011. Revenues were $5.6 billion, also a record level and up 15% over 2011 figures. Profits for the fourth quarter of 2012 were up by 26 million dollars. And transportation orders jumped 7% last quarter, to $1.3 billion.
G-E Transportation President and CEO, Lorenzo Simonelli, said the fourth quarter capped off a very successful year and 2013 is looking good too. "Looking ahead, our recent strategic acquisitions and substantial investments in technology and new production capacity have positioned us well to continue to deliver value to our customers and for strong operating performance in 2013," added Simonelli.
As for new production capacity, G-E is already producing drive systems for mining equipment at its new Fort Worth Texas facility. The Transportation division is due to start turning out locomotives this year. G-E continues to be Erie County's largest employer with about 5,500 hundred employees.
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