Colteanu, GE: Revenue Target Set At $1B In Region For Next Two Years

06.03.2011 By Roxana Petrescu , Catalina Apostoiu

Cristian Colteanu, who runs the operations of US-based company General Electric (GE) in Romania, the Republic of Moldova and Bulgaria, said the revenue target for the next two years was set at $1 billion.

Renewable energy and medical equipment are still the pillars of a business that, according to Colteanu, was not impacted by the crisis.

"Last year yielded good results. Globally, GE grew by 15% and our region also posted a two-digit increase. There's a significant growth potential here, so that for the next two years the target points to revenues of one billion dollars, keeping the same two-digit growth rate," Colteanu says.

Colteanu did not specify how much domestic operations would contribute to this target, but said Romania had a significant contribution in the group's attaining of this figure, i.

Besides the renewable energy sector, which has so far been dominated by foreign investors, the major generation facilities controlled by the Romanian state represent another major investment opportunity and therefore an attractive market of possible contracts for GE.

Taking into account all these opportunities, talks on possible investments in an energy equipment production center are resumed, with GE representatives saying they have been analyzing Romania ever since 2007.

"GE has always been closely watching the region, but decisions are finally made after careful consideration. A continuous assessment process is underway and a decision on this aspect is not out of the question in the future," said Colteanu.