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GE Transportation nets $99 million dollar contract
Posted by Mike on June 17, 2008
Just this morning, Peter Panepento at Outside Erie was commenting on GE’s recent stock woes and what that means to the Erie area. He notes:
But a significant drop in GE’s stock price is bad news for Erie. A lot of folks count on the value of that GE stock to pay for their retirement — and in many families, that shares are passed from generation to generation as a hedge against bad times.
In what should be a shot in the arm locally, GE Transportation has announced they’ve been awarded a $99,000,000 ($62M Euros) to modernize the Rotterdam Metro’s communication and signaling systems.
GoErie reports the work may be done at other GE facilities but the contract will help the Transportation business bottom line, which is always good for Erie.
You can read more about the contract here.
RET, founded in 1878 as RTM (Rotterdamsche Tramweg Maatschappij), is the public transport company servicing the Rotterdam Rijnmond region in the south of the Netherlands. Its origins of horse-drawn and steam trams quickly expanded to include a synchronized network of metro, bus and electric tramlines and it now provides service to 160 million travellers a year.
Posted by Mike at June 17, 2008 2:11 PM
Comments
Great news for GE and the local economy! Will this mean more new jobs over the ones they've been hiring for recently?
Posted by: Phil at June 17, 2008 2:30 PM
A car crash on Interstate 79 near Meadville yesterday slowed traffic to a crawl. One person was injured.
This whole line was a crack up too, Eden.
Posted by: Me at June 17, 2008 3:35 PM
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