CHICAGO (AP) – General Electric Co. said Wednesday it signed an agreement with Saudi Arabia’s Ministry of Commerce and Industry to explore manufacturing opportunities in the Middle Eastern country. The memorandum of understanding was signed at the U.S.-Saudi Business Opportunities Forum in Chicago. It sets up the framework to explore manufacturing opportunities in the country [...]
CHICAGO (AP) – General Electric Co. said Wednesday it signed an agreement with Saudi Arabia’s Ministry of Commerce and Industry to explore manufacturing opportunities in the Middle Eastern country.
The memorandum of understanding was signed at the U.S.-Saudi Business Opportunities Forum in Chicago.
It sets up the framework to explore manufacturing opportunities in the country for local and export markets, GE said. The two will also partner on international development projects in Africa and in Islamic nations elsewhere.
Earlier Wednesday at GE’s annual meeting, the company sounded an optimistic note, saying “clouds are breaking” after one of the worst years ever for the company.
Shares of GE rose 25 cents to close at $18.95.
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