GE Oil & Gas On The Move
Company moving its global headquarters from Florence to London
GE Oil & Gas is moving its global headquarters from Florence, Italy to London, U.K., effective next January.
The division said Florence will remain the global headquarters for GE Oil & Gas Turbomachinery Products & Services, a US$6 billion business and a key manufacturing and engineering site for the production of centrifugal compressors and gas turbines.
GE Oil & Gas has 43 000 employees in more than 100 countries. In addition to Turbomachinery Products & Services in Florence, other business units are Subsea Systems (Aberdeen, U.K.), Measurement & Control (Boston, Massachusetts, U.S.A.), Drilling & Surface (Houston, Texas, U.S.A.), Downstream & Unconventional Products & Services (Houston), Lufkin (Lufkin, Texas) and PII Pipeline Solutions (Cramlington, U.K.).
GE said that in 2012, it invested more than $100 million in the modernization of its Italian plants. Since 2009, its Italian workforce has grown nearly 10% to 5200. From 2011 to 2012, revenues have increased almost 16%.