GE’s Transportation business generated strong results through the second quarter 2012 driven by continued infrastructure growth in the markets in which the company operates.
GE Transportation’s second quarter 2012 revenues were $1.6 billion, up 27% year-over-year.
Segment profits for 2Q in 2012 were $282 million, up 58% from $178 million in the second quarter 2011. GE Transportation’s orders in the second quarter rose 2% to $1.4 billion, driven by higher locomotive orders in North America.
“The second quarter was a significant one for us,” said Lorenzo Simonelli, President and CEO of GE Transportation. “We continued our record of double-digit revenue growth and built on our positioning as a global technology and manufacturing leader. We announced plans to acquire two manufacturers of underground mining equipment, one in North America and one in Australia, to expand our role in the global mining industry. We also plan to double capacity at our high-tech manufacturing plant in Schenectady, NY, to produce industrial batteries for the telecoms industry and utility operators worldwide.”
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