GE executive sees expansion in Europe – report

FRANKFURT, April 5 (Reuters) – General Electric Co (GE.N: Quote, Profile, Research)
wants to achieve high single-digit percentage growth in its
European business, a senior GE executive told a German
newspaper.

“We are in a good position (to reach this goal) but need to
expand our industrial business,” Ferdinando Becalli-Falco,
president and chief executive of GE Europe and North Asia, told
Frankfurter Allgemeine Zeitung in an interview due to be
published on Wednesday.

He added that after buying British oil drilling pipemaker
Wellstream and French electric motors maker Converteam, GE
could eye further acquisitions in Europe.

“The main impetus of expansion will be of an organic nature
though,” Becalli-Falco said.

Last month a vice chairman of the largest U.S. conglomerate
said GE, which has racked up $11 billion in acquisitions in the
energy sector over the past six months, plans to slow its pace
of dealmaking following its purchase of Converteam.
[ID:nN29239620]

GE expects the deal with Converteam to close in the third
quarter. [ID:nL3E7ET1VY]
(Reporting by Josie Cox; editing by John Wallace)

GE executive sees expansion in Europe – report