
31 Jan 2005
GE DEDICATES THIRD PHASE OF GE ADVANCED MATERIALS, PLASTICS COMPLEX IN CARTAGENA
New Cartagena Lexan* resin plant represents GE’s largest investment in Spain.
CARTAGENA, MURCIA, SPAIN – 01/31/2005 - General Electric (NYSE: GE) officially dedicated today its new Lexan* resin plant in Cartagena, Murcia, at an event hosted by Chairman and CEO Jeff Immelt. This is the third phase of the GE Advanced Materials, Plastics complex and represents an investment of 600 million euros. The planned construction of a fourth phase, GE’s Ultem* resins plant, was also announced during the inaugural event.
The inauguration of GE’s 2nd Cartagena Lexan* resin plant brings its total investment in the Cartagena complex to 1,700 million euros. This represents one of the largest private investments in Spain in the last 20 years and confirms that GE is one of the biggest private investors in the Spanish economy.
The new GE plant is expected to employ more than 250 people, increasing the total number of employees in the Cartagena complex to over 600, all of whom have been trained in quality, safety, information technology, and other technical disciplines. Employees of GE's new plant will focus on the production of Lexan* resin. They will also continuously collaborate with scientists at GE’s Global Research Centres to help define the future technical materials needs of the GE’s customers.
The new GE plant has the capacity of producing approximately 130,000 tons of Lexan* resin per year. Based on current global demand for GE’s Lexan* resin, much of the plant’s output is currently anticipated to be absorbed by the market. The plant was designed using six sigma rigor, GE’s quality standard, and was based on its twin facility with which it has production synergies. GE expects that over 90 percent of the plant’s production will be exported from Murcia to customers around the world. In 2003 alone, exports of thermoplastics from Cartagena were valued at 300 million euros, over 8% of Murcia´s total exports. The total investment in the region for the 1993-2002 period is over 2.85 billion euros.
“Lexan polycarbonate is known around the world for its benefits to industry and the consumer,” said John Krenicki, president and CEO of GE Advanced Materials. “Lexan is tough, clear and virtually unbreakable. GE is proud to make even more Lexan products in Cartagena to serve customers and consumers around the world.”
GE’s Cartagena site is an example of innovation and efficiency in safety management. In the last two years of the plant’s construction, with over 3.000 contractors, there were no accidents. In November 2004, the complex surpassed the million working hours milestone without any lost-time accidents.
The Cartagena complex is committed to environmental leadership, as is reflected in its policies of waste management, emissions control and ISO 14001 quality standards. Between 1993 and 2003, GE invested 40 million euros for environment protection on the plant’s site. Additionally, through its volunteer program, GE Elfun Volunteers, GE has dedicated over 300 volunteers and more than 3,000 volunteer hours to programs in nearby communities.
GE also announced today that it plans to continue its investment in Murcia with the construction of a new plant that will manufacture high performance polymers under the ULTEM* resin brand. No details on the planned investment or construction plans were made available at the event.
GE (NYSE:GE) is a diversified technology, media and financial services company dedicated to creating products that make life better. From aircraft engines and power generation to financial services, medical imaging, television programming and plastics, GE operates in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's web site at http://www.ge.com.
General Electric has been present in Spain for more than 50 years. At this moment, the biggest divisions, including 40 commercial units, 12 industrial plants and more than 3,400 employees, have commercial activities in Spain. In 2004, the sales represented more than 1,900 million dollars.
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GE has been active in Europe, Middle East and Africa (EMEA), f
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About GE Advanced Materials
GE Advanced Materials (http://www.geadvancedmaterials.com) is a world leader in providing materials solutions through engineering thermoplastics, silicon-based products and technology platforms, and fused quartz and ceramics. Among its businesses are:
• Plastics – which is a global plastics materials supplier and distributor, serving customers in a variety of industries including aerospace, appliances, automotive, building and construction, data storage and optical media, medical, electrical and electronics devices, telecommunications, computers and peripheral devices, outdoor vehicles and devices, and packaging (http://www.geplastics.com).
• Silicones – which includes GE Toshiba Silicones in the Pacific region and GE Bayer Silicones in Europe, offering silanes, specialty silicones, urethane additives, adhesives, sealants, resins, and elastomers for a variety of industries such as personal care, automotive, tire and rubber, construction, healthcare, electronics, household and institutional, agriculture, textiles, appliances, bedding and furnishings, foam control, and consumer (http://www.gesilicones.com).
• Quartz – which provides high-purity quartz and advanced ceramic materials for the semiconductor, telecommunications, lighting, electronics, personal care, water purification, and various other industries (http://www.gequartz.com).
About LEXAN* Resin
With unmatched impact resistance, outstanding dimensional stability and crystal-clarity, Lexan* resin is an amorphous engineering thermoplastic that combines high levels of mechanical, optical, electrical and thermal properties. Lexan* resin is tough, clear, and virtually unbreakable. Lexan* resin provides designers with new opportunities for innovative, cost-effective products such as eyewear, compact discs, kitchen containers and business equipment.
* Lexan and Ultem are trademarks of General Electric Company.
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