NEW YORK May 3 (Reuters) – General Electric Co
expects Europe to experience an extended period of slow economic
growth, but sees Algeria, South Africa, Turkey and Peru as the
next markets where it is likely to top the billion-dollar
revenue mark, said Chief Executive Jeff Immelt, at a conference
in New York.
The largest U.S. conglomerate has increasingly focused its
growth efforts on so-called resource-rich countries that have
large supplies of energy or minerals.
GE aims to focus its acquisition efforts on buying new data
analytics technologies, but Immelt does not expect the maker of
products ranging from jet engines to light bulbs to transform
itself into a software company.
He emphasized that GE’s current priority is on raising its
dividend, not making deals.
“I’m not going to do a big acquisition,” Immelt said on
Thursday.
Immelt added that he believes the financial services
industry is in a period of “tremendous flux,” and as a result
the Fairfield, Connecticut-based company will continue its
efforts to prune back its GE Capital finance arm.
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