11/14/2007 11h26

GE targetting real estate market and airports

Valor Econômico - 11/14/2007

The versatile North-American giant General Electric, which operates in so diverse sectors such as entertainment, energy generation turbines, and hospital equipment, studies its entrance in new businesses in Brazil. The real estate market is one of them. "The Latin American country in which we are focused on "Real state" is Brazil", says Marcelo Mosci, the new CEO for Latin America. For the time being, the company is still mapping the segment to decide how it will operate. The options range from creating a fund to invest in commercial projects and be a supplier of goods for security, fixtures, and others in on-going works to entering the financing for purchase of real estate. Besides the real estate sector, for the first time in its almost 90 years of Brazil, the company thinks about investing in projects as a shareholder. In Brazil since 1919, when it opened a light bulb plant, the company currently has six major areas of operation, with countless branches in each one of them, in a total of more than 50 companies. Marcelo Mosci assumed the command for the region with the mission of doubling the total sales - which was US$ 6 billion last year - within three to four years. If he reaches his goal, the executive will increase Latin America's participation in the GE's portfolio, whose total sales amounted to US$ 163 billion last year.