GE looking to grow on many Colombian fronts

The US giant General Electric (GE) wants to enter new businesses in Colombia and expand in areas where it already has a Colombian presence, announces the president of GE for Northern South America, Fabiola Sojet. One priority identified is growth via Colpatria with products such as credit cards whilst organic and non-organic growth will both be embraced (GE wants to buy another Colombian bank if possible); further micro-credit opportunities for GE Money will be sought whilst the multinational also wants to grow its role as a supplier of equipment and technology for infrastructure in sectors such as rail, air, ports and basic sanitation.

GE is in talks with Odinsa about becoming a partner in the expansion of the freight terminals at Eldorado airport. It has also been in talks regarding becoming a partner in the logistical centre Porta, set to go up near Eldorado, planned by Ospinas. GE is considering building or buying a plant for the manufacturing of chemicals used to purify water.

It is also close to sealing an alliance with Nalco de Colombia Limitada. GE Colombia, which doesn't include electrodomestics or financing, expects to post sales of US$135mil in 2007 and US$180mil in 2008. In association with Mexico's Grupo Mabe, GE has a white-goods factory in Manizales.

Publication: SABI - Business News
Provider: South American Business Information
Date: December 29, 2007