GE Consolidates Energy Financial Services

摘要

One of the oldest names in the energy business is adopting a new strategy in an effort to increase its exposure to the heavily diversified industry. GE Commercial Finance recently announced a decision to centralize its energy-related financial services inside a specialized company called GE Energy Financial Services (EFS) that will be a direct business of Commercial Finance rather than tucked away within yet another subsidiary. It's a move that should not have surprised energy industry observers. In the past couple of years, GE, whose compression-related equipment has become synonymous with pipelines, has embarked on a major buying spree of energy companies particularly related to the pipeline business, including PII, MJ Harden, Stewart & Stevenson and Nuovo Pignone to name a few. At the same time, it has continued to invest in actual operating pipelines.