GE and Hitachi form alliance
General Electric and Hitachi recently launched a joint nuclear business to capitalize on rising demand for electricity and increasing concerns about carbon dioxide emissions from coal-fired plants.
General Electric Co. and Hitachi, Ltd. recently launched a joint nuclear business to capitalize on rising demand for electricity and increasing concerns about carbon dioxide emissions from coal-fired plants.
John Krenicki, president and chief executive of GE Energy, said that nuclear plants produce virtually no carbon gases and that reactors can take the place of aging power plants that rely on fossil fuels.
"We believe nuclear is going to step in and we're getting ready to execute that plan," he said.
The GE-Hitachi alliance plans to spend between $350 million and $400 million for nuclear plant designs and certification. The designs are expected to be completed by 2010, said Andy White, chief executive of GE Energy Nuclear.
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey