GE Wins $1.4 Billion In Power Generation Orders From Iraq

By Tomi KilgoreMarketsMarketWatch Pulse

General Electric Co. said Wednesday it has won over $1.4 billion in power generation orders from Iraq's Ministry of Electricity. The orders are for setting up power plants and to provide technology upgrades and maintenance services. "Using GE's expanded portfolio of technologies and solutions, this project will provide more reliable and sustainable electricity for the country to help achieve better operations and higher levels of efficiency," said Steve Bolze, chief executive of GE Power. GE's stock, which was up 0.1% in premarket trade, has rallied 7.9% over the past three months, while the Dow Jones Industrial Average has run up 9.2%.

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