General Electric (GE), right in refocusing on its industrial activities, announced Wednesday the creation of a company specializing in energy efficiency, which aims to reduce by 10-20% the power bill for its customers.
This company, called Current, will bring together the activities developed by GE in solar energy, electricity storage systems, equipment for charging electric vehicles and software for managing lighting électromuniscente diode ( LED), a statement said.
It thus focus on products and services related to energy efficiency (techniques to use less with an equivalent yield), GE promises.
“The creation of a new business within GE reinforces our commitment to give a special place to the energy (…) and put in place a specific platform that can be updated as and when technological advances are made, “said Jeffrey Immelt, CEO of GE, said in the statement.
The target clientele will Current hospitals, universities through large retail chains and municipalities, lists Jeffrey Immelt.
The manufacturer Intel computer chips, the US bank JP Morgan Chase and pharmacy chain Walgreens are among its first clients.
Energy efficiency is a niche that is gaining ground against the growing awareness on the negative impact of global warming.
Current Boston-based and led by Maryrose Sylvester, 50, will begin with a turnover of $ 1 billion and it is expected to reach 5 billion by 2020, predicts GE.
S & P lowered the rating considering GE
These announcements come as the Standard & Poor’s rating agency is considering lowering the financial strength rating of GE, due to pressure on management, she advance exerted by the influential activist Nelson Peltz US, new shareholder of the industrial conglomerate.
GE is rated “AA +”, one of the best grades by S & P, however, that Wednesday lowered to “negative” against “stable” before the prospect to match that assessment.
This decision means that the note could be degraded in the short term, unless the agency’s concerns are allayed.
S & P is particularly concerned that the new shareholder of GE obtains management a significant increase in operations buybacks, which may weaken, says the agency, the leverage of the group.
“We believe that the investment Trian (the fund Mr. Peltz) will increase the pressure on the GE management to adopt a more favorable financial policy to owners” at the expense of the financial balance of the company laments S & P.
In addition to its cash distribution to shareholders, GE could also be pushed to make acquisitions, feared the agency.
US billionaire revealed Monday it has invested $ 2.5 billion in GE, after two years of assiduous court.
This amount, the largest investment in a company Mr. Peltz, represents 1% stake in GE and made him one of the top ten shareholders of the industrial conglomerate known for its aircraft engines, turbines and locomotives her.
If he did not ask for the time to sit on the board or split of the company, Mr. Peltz called for greater ROI for shareholders.