(Photo: http://www.newscom.com/cgi-bin/prnh/20090112/CNM034 )
Under the supply agreement, GE Drivetrain Technologies will supply A-Power
with more than 900 2.7 MW gearboxes beginning in 2010. ''We're excited about
the opportunity to serve A-Power," said
Added Logan: ''Our agreement with A-Power is part of our larger strategy to build our customer base through key strategic partnerships, expand into new geographies, and develop innovative drive train systems that leverage GE Drivetrain Technologies' more than 100 years of designing and manufacturing electromechanical drives.''
The companies' joint venture agreement creates a wind turbine gearbox
assembly business that will be majority owned by GE Drivetrain Technologies
and operate under the name GE Transportation. The new assembly plant will
bring multi-megawatt gearbox capacity to
The Joint Venture company will take advantage of A-Power's knowledge of the local market, as well as of GE Drivetrain Technologies' process and quality expertise.
Establishing a joint venture with a strong partner such as A-Power is
consistent with GE Transportation's approach to the global market. ''GE's
successful history of conducting business in
The combination of these two agreements fits well with A-Power's business
strategy and complements investments that it has already made to build a
world-class wind turbine business. "Our gearbox supply agreement and JV
partnership with GE Drivetrain Technologies represent another significant
building block in the foundation of our wind turbine business,'' said
These agreements support
About GE Transportation
Established more than 100 years ago, GE Transportation, a unit of General
Electric Company (NYSE: GE), is a global technology leader and supplier to the
railroad, marine, drilling, mining and wind industries. GE provides freight
and passenger locomotives, railway signaling and communications systems,
information technology solutions, marine engines, motorized drive systems for
mining trucks and drills, high-quality replacement parts and value added
services. With sales in excess of
About A-Power
A-Power Energy Generation Systems, Ltd., through its PRC operating
subsidiary, Liaoning GaoKe Energy Group Co., Ltd., is the largest provider of
distributed power generation systems in
This press release may contain forward-looking statements. Any such
statement is made within the 'safe harbor' provisions of the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as ''will,'' ''expects,'' ''anticipates,''
''future,'' ''intends,'' ''plans,'' ''believes,'' ''estimates,'' and other
similar statements. Statements that are not historical facts, including
statements relating to anticipated future earnings, margins, and other
operating results, future growth, construction plans and anticipated
capacities, production schedules and entry into expanded markets are forward-
looking statements. Such forward-looking statements, based upon the current
beliefs and expectations of our management, are subject to risks and
uncertainties, which could cause actual results to differ materially from the
forward-looking statements, including but not limited to, the risk that: the
expected benefits of the supply and partnership agreements may not materialize
to the extent expected or at all; we expect to rely increasingly on our
proprietary products and systems and on technology developed by our licensors
and partners, and if we or our licensors or partners become involved in an
intellectual property dispute, we may be forced to spend considerable
resources resolving such dispute; a decrease in the rate of growth of
For more information, please contact: GE Media Contact: Stephan Koller Tel: +1-814-875-3457 (office) Tel: +1-814-431-3150 (cell) Email: stephan.koller@ge.com Chris Banocy Tel: +1-814-875-2099 (office) Tel: +1-814-431-9519 (cell) Email: chris.banocy@ge.com A-Power Contact: John S. Lin Tel: +1-626-636-6366 (US) Tel: +86-139-111-32618 (China) Email: john@apowerenergy.com
SOURCE A-Power Energy Generation Systems, Ltd