GE Deal With Iraq May Not Be What It Seems Despite Trump Pressure [Investor's Business Daily]
GE Aerospace (GE)
Last ge aerospace earnings: 4/30 04:02 pm
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Source: Investors Business Daily
Related news General Electric ( GE ) and Siemens ( SIEGY ) both signed agreements for power generation in Iraq, after the Trump administration reportedly intervened on behalf of the American industrial conglomerate's GE Power unit. X GE announced Sunday it had signed "principles of co-operation" to add up to 14 gigawatts of power generation capacity, with 1.5 GW set to come online as soon as next year. Siemens said Monday it had entered into a "memorandum of understanding" to add 11 gigawatts of power generation capacity in four years. But analysts at JPMorgan called the GE Iraq power deal a "vague collection" of conversions, services and upgrades, mainly of low-margin steam turbines, with projects involving the advanced H-frame gas turbines yet to be decided. In addition to the deal's terms, the language of GE's statement was "vague" while that of Siemens was "more firm," JPMorgan analyst Steven Tusa said in a note Monday, noting both involved "unrelated throw-ins" like
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