GE Reaffirms Commitment to Russian Market with $1 Billion Sourcing Plan and Expanded Strategic Partnerships

FLORENCE, Italy, February 1, 2016 — General Electric (NYSE: GE) reaffirmed its commitment to the company’s growth plans in Russia by announcing a $1 billion sourcing program and signing a series of agreements with its Russian strategic partners at the 17th GE Oil & Gas Annual Meeting in Florence. The new initiatives are aimed at accelerating GE’s localization of advanced technology solutions across the oil & gas, power, and transportation industries, as well as driving demand for local suppliers.

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