Petrochemicals Downstream GE Launches Downstream Business
GE's oil and gas division announce the launch of the company's Downstream Technology Solutions (DTS) business – With the segment, the company wants to tap deeper into the global US $ 10 billion refining, petrochemical, industrial and distributed gas segments.
Florence/Italy – “By launching our new Downstream Technology Solutions business, GE can help our customers optimize their operations and accelerate their own growth in this opportunity-filled sector,” said Lorenzo Simonelli, president and CEO of GE Oil & Gas. “The new business also positions GE to more effectively focus on key downstream industry trends and to better anticipate customer needs.”
The new subsidiary will be headquartered in Houston and offer multiple downstream technologies and services including steam turbines, blowers, distributed gas solutions, reciprocating compressors, pumps, valves and distribution systems. The business also provides maintenance services and remote monitoring and diagnostics, company speakers stated.
Illustrates GE’s Commitment to Drive a New Level of ‘Leaner, Faster’ Performance
In January 2014, GE agreed to acquire Cameron’s Reciprocating Compression division, which, subject to customary approvals, upon closing also will join DTS. The high-speed reciprocating compressors are used in applications in the development of shale oil and gas fields. DTS also is the home of the recently-acquired Salof product lines of small-scale, modular liquefied natural gas plants designed to help rail, marine, trucking and industrial customers convert to cleaner-burning natural gas for fuel and power generation.
“Our new Downstream Technology Solutions business allows us to be leaner, faster and closer to our customers that are doing business in an increasingly competitive global landscape,” said Hasan Dandashly, vice president of Downstream Technology Solutions for GE Oil & Gas. “The creation of this new business demonstrates how GE, although a large company, can be agile and fast when it comes to new business opportunities.”