Christine Ott Joins APA as Senior Development Officer

CHICAGO — The American Planning Association (APA), a membership and education organization with nearly 37,000 members domestically and internally, welcomes Christine Ott as its new Senior Development Officer, effective April 18, 2017. Ott comes to APA with nearly 20 years of experience in nonprofit fundraising, networking, and marketing, filling a position new to the organization.

In this role, Ott’s primary responsibilities will include supporting the APA Foundation, organizational partnerships and research grant activities. She will work closely with the leadership team; APA’s CEO James M. Drinan, JD; and APA’s member leadership groups.

“We are excited to have Christine join APA and look forward to her contributions to the Association,” said Drinan. “Her vision and expertise will help expand our Foundation initiatives to ensure we meet the current and future needs of the planning profession.

Previously Ott served as Director of Principal Gifts for Loyola University Chicago and as Vice President in the Private Bank at JP Morgan. She has held marketing leadership roles at Feeding America, Golin, and the Field Museum.

Ott has a bachelor’s degree in communications and a Master of Arts in Business from the University of Wisconsin. She currently serves on the Women’s Boards of the Joffrey Ballet and the Field Museum. She is active in the Association Forum, Association of Fundraising Professionals, and the Executives’ Club of Chicago.

The American Planning Association is an independent, not-for-profit educational organization that provides leadership in the development of vital communities. APA and its professional institute, the American Institute of Certified Planners, are dedicated to advancing the art, science and profession of good planning — physical, economic and social — so as to create communities that offer better choices for where and how people work and live. Members of APA help create communities of lasting value and encourage civic leaders, business interests and citizens to play a meaningful role in creating communities that enrich people’s lives. APA has offices in Washington, D.C., and Chicago. For more information, visit www.planning.org.

Software AG accelerates growth in its Digital Business

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License revenue up 18 percent, product revenue up 12 percent in Q1

  • North America: Continuously strong performance in the world’s largest technology market
  • Germany: Multiple major Internet of Things (IoT) and Industry 4.0 customer projects boost the digital business performance
  • Acquisition of Industrial Internet specialist Cumulocity further strengthens Software AG’s technology leadership
  • Profitability remains on a high level
  • Full confirmation of outlook 2017

[All figures are rounded unless otherwise indicated.]

Darmstadt, Germany, 4/21/2017

Software AG (Frankfurt TecDAX: SOW) today announced its financial figures (IFRS, preliminary) for the first quarter of 2017. An increasing number of large companies are relying on Software AG’s leading technology to drive their digital transformations. Additionally, the IoT and Industry 4.0 adoption boosted the performance of the company’s largest business line – the Digital Business Platform (DBP). With a license revenue jump of 18 percent and increased product revenues of 12 percent, Software AG strongly demonstrated its increasing relevance and digital leadership. Driven by a strong performance in North America, the global early adopter market, and propelled by new Industry 4.0 projects in Germany, DBP product revenue exceeded the €100 million benchmark for the first time in a first quarter. Reflecting the company’s growing success in the IoT market and extending its technology leadership, Software AG acquired the Industrial Internet specialist Cumulocity at the end of Q1. Cumulocity’s cloud-based platform integrates IT applications with physical devices (Operational Technology). Moreover, Software AG’s database business Adabas & Natural (A&N) grew by 8 percent in maintenance revenue demonstrating stability and a high degree of customer loyalty as seen in 2016. The Consulting business division also developed very positively and recorded revenue growth of 9 percent and a double digit segment margin. This development underlines the successful transformation of the company into a strategic partner for major enterprises delivering high value digital consulting services. With an overall stable revenue performance, the Group continued to maintain its profitability at a very high level: the operating profit margin (EBITA, non-IFRS) was 27.3 percent, exceeding expectations. Based on these positive business developments in Q1 and the depth of the project pipeline for the rest of the year, Software AG fully confirms its outlook for the year 2017.

The outstanding success of the Digital Business Platform in Q1 validates our strategic focus on profitable growth. We entered the year as we finished the previous one: with strong momentum. This positive trend is also evidence that enterprises recognize how important it is to invest in leading Internet of Things and Industry 4.0 technologies”, said Karl-Heinz Streibich, CEO of Software AG. “Digital transformation has become the maxim of all industries and, internationally, we are taking a pioneering role in driving digitalization through strategic co-innovation partnerships with world market leaders such as Bosch, Dürr, Dell, Huawei and others” continued Streibich.

“In the first quarter of 2017, we further expanded revenue in our growth segment while maintaining our operating profit margin at a consistently high level. Revenue growth and thus increase in profitability remain or declared priorities. We also successfully advanced the development of our leading portfolio through the strategic innovation-driven acquisition of Cumulocity in the first quarter. Therefore, we have established an excellent and strong starting position for the rest of the year and beyond,” commented CFO Arnd Zinnhardt.


Business area development

In the Digital Business Platform (DBP) segment, license revenues of €38.4 million (Q1 2016: €32.7 million) were generated in the first quarter, an increase of 18 percent compared to the previous year. Maintenance revenue rose to €67.2 million (Q1 2016: €61.9 million) in the same period, 9 percent higher than in the previous year. Accordingly, the DBP product revenue (licenses + maintenance) amounted to a total of €105.6 million (Q1 2016: €94.5 million) in the first quarter—an increase of 12 percent.

The Adabas & Natural (A&N) division improved its maintenance revenues to €40.1 million (Q1 2016: €37.0 million), an increase of 8 percent compared to the previous year. The positive development of maintenance revenues underscores the stability of the business and high level of loyalty of the A&N customer base. A further stabilizing factor was the company’s “Adabas & Natural 2050+” innovation program which provides support and digital innovations for customers beyond the year 2050. With this program, Software AG is contributing, in the long term, to protecting its customers’ investments and actively modernizing their IT landscapes. Measured against the extraordinarily strong 2016 first quarter, A&N product sales declined to €47.9 million (Q1 2016: €63.4 million). The main reason was the license sales development which as expected was lower, reaching €7.8 million (Q1 2016: €26.4 million). While Q1 2016 performance was driven by extraordinarily early capacity expansions and contract renewals, Q1 2017 reflects a normal seasonal license revenue development. Therefore, the company remains confident in delivering its A&N total year revenue guidance.

Sales in the Consulting division rose to €52.3 million (Q1 2016: €48.0 million) in the first quarter, an improvement of 9 percent. The segment contribution margin increased to 10 percent (Q1 2016: 4 percent).


Total revenue and earnings development

In the quarter under review, Software AG recorded stable total turnover of €205.9 million (Q1 2016: €206.2 million). The Group’s maintenance revenue developed very positively reaching €107.2 million (Q1 2016: €98.9 million), an increase of 8 percent. As a result of the expected weaker development in the A&N license business, the Group’s license revenue of €46.3 million (Q1 2016: €59.1 million) was below the previous year’s figure in the quarter under review. Accordingly, the company’s product sales (licenses + maintenance) totaled €153.5 million (Q1 2016: €158.0 million) in the first quarter.

Due to €5.2 million higher investments of €92.3 million (Q1 2016: €87.1 million) in research and development as well as sales and marketing, the company’s earnings before interest and taxes EBIT amounted to €41.5 million (Q1 2016: €45.3 million) in the first quarter. This corresponds to an      of 20.2 percent (Q1 2016: 22.0 percent). The operating EBITA (non-IFRS) reached €56.3 (Q1 2016: €59.1 million). The operating profit margin (non-IFRS) of 27.3 percent (Q1 2016: 28.7 percent) continued to be on a very high level.

The net result reached €27.3 million (Q1 2016: €29.5 million), while earnings per share (non-IFRS) amounted to €0.49 (Q1 2016: €0.51).

The equity ratio was 61 percent (Q1 2016: 59 percent). The operating cash flow reached previous year’s record high and amounted to €61.7 million (Q1 2016: €61.9 million). Due to a one-time property investment in Q1, the free cash flow of €43.3 million (Q1 2016: €60.5 million) was below last year’s record level.


Employees

As of March 31, 2017, Software AG employed a total of 4,486 (Q1 2016: 4,299) employees (full-time equivalents), of which 1,891 (Q1 2016: 1,853) in consulting and service, 1,122 (Q1 2016: 1,011) in research and development, 863 (Q1 2016: 833) in Sales and Marketing as well as 610 (Q1 2016: 602) in Administration.


Outlook for 2017

Software AG confirms its forecast for fiscal year 2017 and expects a currency-adjusted increase in DBP sales of between 5 and 10 percent. In the A&N segment, the company expects a currency-adjusted decline of 2 to 6 percent compared to the previous year. The Group also expects a high operating profit margin (EBITA, non-IFRS) of 30.5 to 31.5 percent.

*     At constant currency
**    Before adjusting for non-operating factors (see non-IFRS results)

 

A conference call for financial analysts and media representatives will take place on Friday, April 21, 2017 at 9:30 am CEST (08:30 BST). For dial-up information, visit the company’s website at www.SoftwareAG.com/investors.

Key Figures

*     acc = at constant currency
**    Based on weighted average shares outstanding (basic) Q1 2017: 75.9m / Q1 2016: 76.2m
***  Cash flow from investing activities adjusted for acquisitions and investments in debt instruments

About Software AG

The digital transformation is changing enterprise IT landscapes from inflexible application silos to modern software platform-driven IT architectures which deliver the openness, speed and agility needed to enable the digital real-time enterprise.

Software AG offers the first end-to-end Digital Business Platform, based on open standards, with integration, process management, in-memory data, adaptive application development, real-time analytics and enterprise architecture management as core building blocks. The modular platform allows users to develop the next generation of application systems to build their digital future, today.

With over 45 years of customer-centric innovation, Software AG is ranked as a leader in many innovative and digital technology categories. Software AG has more than 4,500 employees, is active in 70 countries and had revenues of €872 million in 2016.

Learn more at www.softwareag.com.

Software AG Uhlandstraße 12 64297 Darmstadt Germany

Detailed press information about Software AG including a picture and multimedia database are available under: www.softwareag.com/press

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Fiserv President and CEO Jeffery Yabuki Recognized with University of Wisconsin-Milwaukee Chancellor’s Innovation Award

BROOKFIELD, Wis.–( )– Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that Jeffery Yabuki, President and Chief Executive Officer of Fiserv, has been honored with the Chancellor’s Innovation Award by the University of Wisconsin-Milwaukee. Yabuki was recognized for pushing the boundaries of current technology to advance financial services.

Now in its sixth year, the Chancellor’s Innovation Award honors UWM alumni or individuals otherwise connected to southeastern Wisconsin, spotlighting their expertise in areas such as creative, intelligent risk-taking and effective change management as well as their passion for lifelong learning.

Yabuki has led the evolution of Fiserv and the strategic moves the company has made in anticipation of market trends to amass best of breed solutions, develop and deliver new solutions, forge strategic partnerships and invest in innovative technology to continue to create differentiated experiences.

„Jeff’s visionary work shows entrepreneurial drive and transformative thinking,” said Mark A. Mone, Chancellor, University of Wisconsin-Milwaukee. „He has created a remarkable competitive advantage, and improved the businesses of Fiserv clients, and the lives of their customers, by transforming Fiserv from a holding company model to an integrated operating company. We know that innovation requires a great deal of learning and collaboration with many different constituencies. Jeff has navigated these channels well and is an inspiration to future leaders of innovation.”

Yabuki accepted the award at a luncheon ceremony at the Wisconsin Club

in downtown Milwaukee. He explained that Fiserv is focused on driving purposeful innovation that helps its clients succeed, delivering technology that enables financial services to fit seamlessly and beneficially into people’s busy lives.

„Innovation is foundational to our mission,” said Yabuki. „At Fiserv, a key focus is to create a culture which unlocks innovation across our 23,000 associates. They work hard to provide our clients — and their customers — the best in financial technology each and every day.

Fiserv was recently named one of FORTUNE Magazine’s World’s Most Admired Companies® for the fourth consecutive year, ranking number one in its category for innovation for the second year in a row. Last month, Yabuki spoke at the Bank Innovation Conference in Silicon Valley

and the Innovation Project in Boston, Massachusetts, where he discussed shifts in financial services driven by new technologies.

Previous winners of the Chancellor’s Innovation Award include Satya Nadella, CEO, Microsoft Corporation; Bud Selig, former owner of the Milwaukee Brewers baseball team and Commissioner of Major League

Baseball, now Commissioner Emeritus of Major League Baseball; and Gale E. Klappa, Chairman and CEO, Wisconsin Energy Corporation.

In a world that is moving faster than ever before, Fiserv helps clients deliver solutions that are in step with the way people live and work today — financial services at the speed of life. Learn more at fiserv.com.

About Fiserv

Fiserv, Inc. (NASDAQ: FISV) enables clients worldwide to create and deliver financial services experiences that are in step with the way people live and work today. For more than 30 years, Fiserv has been a trusted leader in financial services technology, helping clients achieve best-in-class results by driving quality and innovation in payments, processing services, risk and compliance, customer and channel management, and insights and optimization. Fiserv is a member of the FORTUNE® 500 and has been named among the FORTUNE Magazine World’s Most Admired Companies® for four consecutive years, ranking first in its category for innovation in 2016 and 2017. For more information, visit fiserv.com.

About UWM

Recognized as one of the nation’s 115 top research universities, UW-Milwaukee provides a world-class education to 26,000 students from 81 countries. Its 14 schools and colleges include Wisconsin’s only schools of architecture, freshwater sciences and public health, and it is a leading educator of nurses and teachers. UW-Milwaukee partners with leading companies to conduct joint research, offer student internships and serve as an economic engine for southeastern Wisconsin. The Princeton Review named UW-Milwaukee a 2017 „Best Midwestern” university based on overall academic excellence and student reviews, as well as a top „Green College.”

GE Completes Acquisition of LM Wind Power

PARIS—April 20, 2017 GE (NYSE:GE) the world’s leading Digital Industrial company, announced today that it has completed the acquisition of LM Wind Power, a Denmark-based technology developer and manufacturer of rotor blades to the wind industry. The completion of the transaction follows regulatory approval in the European Union, the United States, China, and Brazil.

GE reached an agreement with the London-based private equity firm Doughty Hanson in October 2016 to purchase the company for €1.5 billion ($1.65 billion). The transaction in-sources wind turbine blade design and manufacturing for GE’s Renewable Energy business, improving its ability to increase energy output and create value for onshore and offshore wind customers. The deal will be accretive to GE earnings in 2018.

Jérôme Pécresse, President and CEO of GE Renewable Energy, said, “The completion of the LM Wind Power acquisition provides us with the operational efficiencies necessary to support the growth of our wind turbine business, which is the fastest growing segment of power generation. With LM’s technology and blade engineering, we are now able to improve the overall performance of our wind turbines, lowering the cost of electricity and increasing the value for our customers. Together, we are set to capitalize on the expansion of renewable energy and be a growth engine for GE.”

Marc de Jong, CEO of LM Wind Power, said, “LM Wind Power has had a long-standing partnership with GE that has yielded many innovations and commercial successes, including the installation of the first-ever offshore wind farm in the United States. We see many digital and advanced manufacturing technology capabilities that will help accelerate our technology development and increase our customer reach.

LM Wind Power will be run as an individual operating unit within GE Renewable Energy, providing blades for both GE’s onshore and offshore wind business units. LM Wind Power will also continue to supply blades to the rest of the wind industry, having established protocols and safeguards to protect customers’ confidential data.

With this deal, GE continues to deepen its capabilities and ambitions in renewable energy. In the past year, GE has delivered the first offshore wind farm in the US, won its first offshore project in China, launched its onshore digital wind farm and digital hydro plant, and developed hybrid projects in wind-solar and hydro-wind.

GE’s goal is to deliver renewable energy projects locally that maximize electricity output while reducing the cost of electricity, bringing affordable, sustainable energy to the world and more value for its customers.

For more information on the deal visit www.gerenewableenergy.com

###

About GE Renewable Energy
GE Renewable Energy is a $10 billion start-up that brings together one of the broadest product and service portfolios of the renewable energy industry. Combining onshore and offshore wind, hydro and innovative technologies such as concentrated solar power, GE Renewable Energy has installed more than 400+ gigawatts capacity globally to make the world work better and cleaner. With more than 12,000 employees present in more than 55 countries, GE Renewable Energy is backed by the resources of the world’s first digital industrial company. Our goal is to demonstrate to the rest of the world that nobody should ever have to choose between affordable, reliable, and sustainable energy.
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Enterprises Look to the Data Center to Fuel Business Innovation, Says New Report from Tegile

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Survey of more than 700 IT pros reveals virtualization and hybrid flash storage remain enterprises’ top choices in the data center

Newark, Calif. – April 18, 2017 – Organizations are adopting more virtualized workloads and flash storage in hybrid data center environments, according to the 2017 State of Storage in Virtualization report released today by ActualTech Media and Tegile Systems. This and other findings from the survey suggest the increase in popularity of both virtualization and hybrid storage are inspired by a need for greater automation and reliability and faster access when it comes to business data and applications.

“Modern enterprises need data center infrastructure that can evolve at the pace of their business,” said Scott D. Lowe, partner and cofounder of ActualTech Media. “For the second year in a row, this study has highlighted the immense role that both virtualization and hybrid storage play in moving enterprises’ IT strategies into the future.”

Notable findings from the survey include:

Dropbox and Cloud Storage Don’t Reign Supreme. Implementation of cloud-based storage has been slower than expected, as virtualization continues to dominate the data center. In the context of file-sharing services for instance, enterprises prefer virtualization and retaining data in-house over cloud options.

  • 57 percent of respondents have virtualized their file sharing services but have retained them in-house as opposed to adopting cloud-based software.
  • Organizations are virtualizing other enterprise applications as well, including Microsoft SQL Server (71 percent), Microsoft Exchange (50 percent) and Microsoft Sharepoint (44 percent).
  • 27 percent of organizations run nearly fully virtualized data center environment, up from 19 percent a year ago.

Hybrid Flash Storage Continues to Gain Traction. Hybrid flash storage systems are growing in popularity as enterprises realize capacity and performance gains without exorbitant costs.

  • 55 percent of respondents are using hybrid storage systems – those that combine flash and spinning disk – compared to just 47 percent a year ago.
  • The growth in hybrid storage comes at the expense of all-disk systems, which are falling out of favor, dropping from 41 percent of respondent environments in 2016 to 37 percent in Q1 2017.
  • 2 percent of organizations have an entirely all-flash data center.

Organizations Turn to Storage for Faster Application Response Times. Deployment of all-flash or hybrid arrays are accelerating, with a need to improve application response times as the number one factor leading to its adoption.

  • 72 percent of respondents cite improving application response times as a key driver for deploying flash or hybrid storage in the data center.
  • The two largest drivers following application response time are improving end-user satisfaction (53 percent) and business growth/expansion (46 percent).
  • More than one-half of respondents acquire more flash storage at least annually.

Data is the bedrock of business success. As the amount and importance of data continues to surge, organizations are making massive changes to the data center,” says Rohit Kshetrapal, CEO of Tegile. “Add to this enterprises’ insatiable appetite for business velocity and the transformational impact of flash. This study shines a light on exactly how they’re making those changes so that they can rapidly access and act on critical data.”

Tegile Systems and ActualTech Media partnered to create this report, polling more than 700 IT professionals. To learn more, download the full report at www.tegile.com/survey.

About Tegile Systems

Tegile Systems is pioneering a new generation of flash-driven enterprise storage arrays that balance performance, capacity, features and price for virtualization, file services and database applications. With Tegile’s line of all-flash and hybrid storage arrays, the company is redefining the traditional approach to storage by providing a family of arrays that accelerate business critical enterprise applications and allow customers to significantly consolidate mixed workloads in virtualized environments.

Tegile’s patented IntelliFlash™ technology accelerates performance and enables inline deduplication and compression of data so each array has a usable capacity far greater than its raw capacity. Tegile’s award-winning solutions enable customers to better address the requirements of server virtualization, virtual desktop integration and database integration than any other offerings. Featuring both NAS and SAN connectivity, Tegile arrays are easy-to-use, fully redundant and highly scalable. They come complete with built-in snapshot, remote-replication, near-instant recovery, onsite or offsite failover, and VM-aware features. Additional information is available at www.tegile.com. Follow Tegile on Twitter .

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Personal Safety Company Guard Llama Scores Deal on ABC’s „Shark Tank”

WASHINGTON (April 17, 2017) – With an offer of $100,000 from investor Barbara Corcoran, 2015 REach real estate technology accelerator participant and personal safety device company, Guard Llama, is officially a part of “Shark Tank” television history.

Guard Llama offers a mobile personal security system that expedites the 9-1-1 dispatching process when dialing 9-1-1 is not possible. This technology caught the attention of the National Association of Realtors®’ strategic investment arm, Second Century Ventures, which announced in 2015 that Guard Llama had been added to its growth technology accelerator program known as REach.

NAR President William E. Brown, a second-generation Realtor® from Alamo, California and founder of Investment Properties, congratulated the company on making their case before the Shark Tank panelists. “The Guard Llama team should be proud of their accomplishment,” he said. “Pitching a product is no small task, especially in front of well-known business leaders on national television, but the Guard Llama team did fantastic.

NAR is committed to the safety and well-being of its members, and established the REALTOR® Safety Program to empower and inform members of the potential risks they face in this profession as well as how to navigate them safely. According to NAR’s 2016 Member Safety Report, while 95 percent of Realtors® have never been the victim of crime, 39 percent have found themselves in situations where they have feared for their safety or the safety of their personal information. Smart phone apps and devices are among the popular safety tools for real estate agents.

Guard Llama CEO Joe Parisi said that while the “Shark Tank” experience was intense, the event marked a real opportunity for his company.

“Anytime someone recognizes the value in your product and says they want to put an investment behind it, that’s a good day,” he said. “Having a celebrity businessperson do it on a national stage like “Shark Tank” is just extraordinary. This represented a chance to showcase what Guard Llama is doing to help make the world safer, and we’re looking forward to the good work we have ahead of us.”

Additional information on Guard Llama’s products and services is available on their website, guardllama.com/how-it-works/.  

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

GE Oil&Gas signs agreement with Gulf Petrochemical Industries Company

Bahrain, April 16, 2017: GE Oil & Gas (NYSE: GE) has signed a long-term multi-outage agreement with Gulf Petrochemical Industries Company (GPIC), to drive the operational excellence of GPIC’s plant in Bahrain. The partnership will strengthen the competency of GPIC to supply products including ammonia and methanol that drive the growth of downstream industries and contribute to Bahrain’s national economy.

As part of the agreement, GE Oil & Gas will offer the full spectrum of outage turnkey services, spare parts and repairs for the GPIC plant. It also covers the servicing of scheduled outages for a period from 2018 to 2026. The collaboration between GPIC and GE Oil & Gas will allow the technical teams to conduct all consultative checks ahead of time, ensuring that the key process equipment crucial for GPIC’s production – such as syngas trains, mug trains, carbon dioxide compressors and gas turbine generators –continues to operate while unnecessary downtime is reduced significantly.

The partnership between GPIC and GE Oil & Gas will lay the foundation for future adoption of GE Predix-based solutions including Asset Performance Management (APM), a major step towards the full digitalization of the overall plant, contributing to optimal asset utilization and increased operational efficiency.

Zaher Ibrahim, CEO of GE Oil & Gas – Saudi Arabia & Bahrain, said: “The agreement with GPIC is a milestone in our long-term partnership with the organization that is owned by our major clients. As a key contributor to the national economy of Bahrain, GPIC focuses on products that have extensive application in downstream industries. The multi-outage agreement will strengthen the efficiency of the GPIC plant and contribute to higher levels of productivity and operational safety. This also further demonstrates GE Oil & Gas’ full stream capabilities and the productivity gains that can be realized through such close-collaboration.”

Established in 1979 as a joint venture between GCC member states for the manufacture of fertilizers and petrochemicals, GPIC is owned by NOGA Holding Bahrain, Saudi Basic Industries Corporation (SABIC) and Petrochemical Industries Company (PIC) of Kuwait, which are leading customers of GE.

Dr. Abdulrahman Jawahery, President, GPIC, added: “At GPIC, we are focused on strengthening the all-round efficiency and safety standards of the plant. Reducing unplanned downtime and increasing the operational workflow is critical to achieving our production targets. The multi-outage agreement that we signed with GE, our long-term partner, brings the latest technology strengths to GPIC.

GE Oil & Gas provides a wide selection of advanced equipment for GPIC’s shareholders including pumps and Frame 5 gas turbine generators. Across the board, GE Oil & Gas prioritizes safety, quality and operational excellence with the goal of delivering higher levels of productivity and increased uptime of the assets.

GE Oil & Gas has had a strong presence in the region, including Bahrain, for more than 80 years and has continued to invest in its capabilities with local centers of excellence in Bahrain, training programs for Bahraini nationals and by driving local research in technology. 

Note to Editors

About GE:

GE (NYSE: GE) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the „GE Store,” through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. www.ge.com

About GE Oil & Gas:

GE Oil & Gas works on the things that matter in the oil and gas industry.  In collaboration with our customers, we push the boundaries of technology to bring energy to the world. From extraction to transportation to end use, we address today’s toughest challenges in order to fuel the future. www.geoilandgas.com. Follow GE Oil & Gas on Twitter @GE_OilandGas

GE Oil&Gas signs agreement with Gulf Petrochemical Industries Company

Bahrain, April 16, 2017: GE Oil & Gas (NYSE: GE) has signed a long-term multi-outage agreement with Gulf Petrochemical Industries Company (GPIC), to drive the operational excellence of GPIC’s plant in Bahrain. The partnership will strengthen the competency of GPIC to supply products including ammonia and methanol that drive the growth of downstream industries and contribute to Bahrain’s national economy.

As part of the agreement, GE Oil & Gas will offer the full spectrum of outage turnkey services, spare parts and repairs for the GPIC plant. It also covers the servicing of scheduled outages for a period from 2018 to 2026. The collaboration between GPIC and GE Oil & Gas will allow the technical teams to conduct all consultative checks ahead of time, ensuring that the key process equipment crucial for GPIC’s production – such as syngas trains, mug trains, carbon dioxide compressors and gas turbine generators –continues to operate while unnecessary downtime is reduced significantly.

The partnership between GPIC and GE Oil & Gas will lay the foundation for future adoption of GE Predix-based solutions including Asset Performance Management (APM), a major step towards the full digitalization of the overall plant, contributing to optimal asset utilization and increased operational efficiency.

Zaher Ibrahim, CEO of GE Oil & Gas – Saudi Arabia & Bahrain, said: “The agreement with GPIC is a milestone in our long-term partnership with the organization that is owned by our major clients. As a key contributor to the national economy of Bahrain, GPIC focuses on products that have extensive application in downstream industries. The multi-outage agreement will strengthen the efficiency of the GPIC plant and contribute to higher levels of productivity and operational safety. This also further demonstrates GE Oil & Gas’ full stream capabilities and the productivity gains that can be realized through such close-collaboration.”

Established in 1979 as a joint venture between GCC member states for the manufacture of fertilizers and petrochemicals, GPIC is owned by NOGA Holding Bahrain, Saudi Basic Industries Corporation (SABIC) and Petrochemical Industries Company (PIC) of Kuwait, which are leading customers of GE.

Dr. Abdulrahman Jawahery, President, GPIC, added: “At GPIC, we are focused on strengthening the all-round efficiency and safety standards of the plant. Reducing unplanned downtime and increasing the operational workflow is critical to achieving our production targets. The multi-outage agreement that we signed with GE, our long-term partner, brings the latest technology strengths to GPIC.

GE Oil & Gas provides a wide selection of advanced equipment for GPIC’s shareholders including pumps and Frame 5 gas turbine generators. Across the board, GE Oil & Gas prioritizes safety, quality and operational excellence with the goal of delivering higher levels of productivity and increased uptime of the assets.

GE Oil & Gas has had a strong presence in the region, including Bahrain, for more than 80 years and has continued to invest in its capabilities with local centers of excellence in Bahrain, training programs for Bahraini nationals and by driving local research in technology. 

Note to Editors

About GE:

GE (NYSE: GE) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the „GE Store,” through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. www.ge.com

About GE Oil & Gas:

GE Oil & Gas works on the things that matter in the oil and gas industry.  In collaboration with our customers, we push the boundaries of technology to bring energy to the world. From extraction to transportation to end use, we address today’s toughest challenges in order to fuel the future. www.geoilandgas.com. Follow GE Oil & Gas on Twitter @GE_OilandGas

GE Oil&Gas signs agreement with Gulf Petrochemical Industries Company

Bahrain, April 16, 2017: GE Oil & Gas (NYSE: GE) has signed a long-term multi-outage agreement with Gulf Petrochemical Industries Company (GPIC), to drive the operational excellence of GPIC’s plant in Bahrain. The partnership will strengthen the competency of GPIC to supply products including ammonia and methanol that drive the growth of downstream industries and contribute to Bahrain’s national economy.

As part of the agreement, GE Oil & Gas will offer the full spectrum of outage turnkey services, spare parts and repairs for the GPIC plant. It also covers the servicing of scheduled outages for a period from 2018 to 2026. The collaboration between GPIC and GE Oil & Gas will allow the technical teams to conduct all consultative checks ahead of time, ensuring that the key process equipment crucial for GPIC’s production – such as syngas trains, mug trains, carbon dioxide compressors and gas turbine generators –continues to operate while unnecessary downtime is reduced significantly.

The partnership between GPIC and GE Oil & Gas will lay the foundation for future adoption of GE Predix-based solutions including Asset Performance Management (APM), a major step towards the full digitalization of the overall plant, contributing to optimal asset utilization and increased operational efficiency.

Zaher Ibrahim, CEO of GE Oil & Gas – Saudi Arabia & Bahrain, said: “The agreement with GPIC is a milestone in our long-term partnership with the organization that is owned by our major clients. As a key contributor to the national economy of Bahrain, GPIC focuses on products that have extensive application in downstream industries. The multi-outage agreement will strengthen the efficiency of the GPIC plant and contribute to higher levels of productivity and operational safety. This also further demonstrates GE Oil & Gas’ full stream capabilities and the productivity gains that can be realized through such close-collaboration.”

Established in 1979 as a joint venture between GCC member states for the manufacture of fertilizers and petrochemicals, GPIC is owned by NOGA Holding Bahrain, Saudi Basic Industries Corporation (SABIC) and Petrochemical Industries Company (PIC) of Kuwait, which are leading customers of GE.

Dr. Abdulrahman Jawahery, President, GPIC, added: “At GPIC, we are focused on strengthening the all-round efficiency and safety standards of the plant. Reducing unplanned downtime and increasing the operational workflow is critical to achieving our production targets. The multi-outage agreement that we signed with GE, our long-term partner, brings the latest technology strengths to GPIC.

GE Oil & Gas provides a wide selection of advanced equipment for GPIC’s shareholders including pumps and Frame 5 gas turbine generators. Across the board, GE Oil & Gas prioritizes safety, quality and operational excellence with the goal of delivering higher levels of productivity and increased uptime of the assets.

GE Oil & Gas has had a strong presence in the region, including Bahrain, for more than 80 years and has continued to invest in its capabilities with local centers of excellence in Bahrain, training programs for Bahraini nationals and by driving local research in technology. 

Note to Editors

About GE:

GE (NYSE: GE) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the „GE Store,” through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. www.ge.com

About GE Oil & Gas:

GE Oil & Gas works on the things that matter in the oil and gas industry.  In collaboration with our customers, we push the boundaries of technology to bring energy to the world. From extraction to transportation to end use, we address today’s toughest challenges in order to fuel the future. www.geoilandgas.com. Follow GE Oil & Gas on Twitter @GE_OilandGas

GE Oil&Gas signs agreement with Gulf Petrochemical Industries Company

Bahrain, April 16, 2017: GE Oil & Gas (NYSE: GE) has signed a long-term multi-outage agreement with Gulf Petrochemical Industries Company (GPIC), to drive the operational excellence of GPIC’s plant in Bahrain. The partnership will strengthen the competency of GPIC to supply products including ammonia and methanol that drive the growth of downstream industries and contribute to Bahrain’s national economy.

As part of the agreement, GE Oil & Gas will offer the full spectrum of outage turnkey services, spare parts and repairs for the GPIC plant. It also covers the servicing of scheduled outages for a period from 2018 to 2026. The collaboration between GPIC and GE Oil & Gas will allow the technical teams to conduct all consultative checks ahead of time, ensuring that the key process equipment crucial for GPIC’s production – such as syngas trains, mug trains, carbon dioxide compressors and gas turbine generators –continues to operate while unnecessary downtime is reduced significantly.

The partnership between GPIC and GE Oil & Gas will lay the foundation for future adoption of GE Predix-based solutions including Asset Performance Management (APM), a major step towards the full digitalization of the overall plant, contributing to optimal asset utilization and increased operational efficiency.

Zaher Ibrahim, CEO of GE Oil & Gas – Saudi Arabia & Bahrain, said: “The agreement with GPIC is a milestone in our long-term partnership with the organization that is owned by our major clients. As a key contributor to the national economy of Bahrain, GPIC focuses on products that have extensive application in downstream industries. The multi-outage agreement will strengthen the efficiency of the GPIC plant and contribute to higher levels of productivity and operational safety. This also further demonstrates GE Oil & Gas’ full stream capabilities and the productivity gains that can be realized through such close-collaboration.”

Established in 1979 as a joint venture between GCC member states for the manufacture of fertilizers and petrochemicals, GPIC is owned by NOGA Holding Bahrain, Saudi Basic Industries Corporation (SABIC) and Petrochemical Industries Company (PIC) of Kuwait, which are leading customers of GE.

Dr. Abdulrahman Jawahery, President, GPIC, added: “At GPIC, we are focused on strengthening the all-round efficiency and safety standards of the plant. Reducing unplanned downtime and increasing the operational workflow is critical to achieving our production targets. The multi-outage agreement that we signed with GE, our long-term partner, brings the latest technology strengths to GPIC.

GE Oil & Gas provides a wide selection of advanced equipment for GPIC’s shareholders including pumps and Frame 5 gas turbine generators. Across the board, GE Oil & Gas prioritizes safety, quality and operational excellence with the goal of delivering higher levels of productivity and increased uptime of the assets.

GE Oil & Gas has had a strong presence in the region, including Bahrain, for more than 80 years and has continued to invest in its capabilities with local centers of excellence in Bahrain, training programs for Bahraini nationals and by driving local research in technology. 

Note to Editors

About GE:

GE (NYSE: GE) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the „GE Store,” through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. www.ge.com

About GE Oil & Gas:

GE Oil & Gas works on the things that matter in the oil and gas industry.  In collaboration with our customers, we push the boundaries of technology to bring energy to the world. From extraction to transportation to end use, we address today’s toughest challenges in order to fuel the future. www.geoilandgas.com. Follow GE Oil & Gas on Twitter @GE_OilandGas