Boston, MA 10/02/2013 (wallstreetpr) – General Electric Company (NYSE:GE) will now supply engines for a fleet of 787 Dreamliners that belong to Vietnam Airlines. Nguyen Tan Dung, the Vietnamese Prime Minister said that with this, it is has won the $1B order. Rolls Royce was the rival bidder in this deal that is slated to be signed at the Brunei East Asia Summit, next month.
Dung said that President Obama had requested that the signing of the deal be postponed till the summit. The Prime Minister said that the competition between the two companies had been very strong but the process was a very transparent one and General Electric Company (NYSE:GE) emerged as the winner.
The big dream
Vietnam Airlines is the country’s budding airline and it is now trying to get into the big league and compete with regional airlines. The projection is that the passenger growth in the Asia Pacific region will exceed that which exists in North America and Europe, right through to 2016. This is the country’s one and only privately-owned carrier and
The airline said that that will receive 19 Boeing 787-9 Dreamliners, starting 2015.
Tuesday’s trading
In Tuesday’s trading, General Electric Company (NYSE:GE) rose by 1.17%. The shares opened at a price of $23.94, climbed to an intraday high of $24.22 and dipped to a close of $24.17. Approximately 28.99 million shares were traded on Tuesday while an average volume of 35.36 million shares were traded over a 30 day period. The 52-week low of the company’s shares is $19.87 and its 52-week high is $35.36. The company has a market capitalization of $246.14 billion.
About the company
General Electric Company (NYSE:GE) is a diversified-technology and financial-services company. Its products and services range from aircraft-engines, power-generation, water-processing, and household-appliances to medical-imaging, business and consumer-financing and various industrial products. The company serves customers across more than 100 countries.
