General Electric Co's recent purchase of part of Doosan Engineering & Construction Co Ltd of Korea will sharply boost the US manufacturer's revenues from its $9.5 billion purchase of Alstom power assets last year, a senior GE executive said on Tuesday.
GE's purchase of Doosan's heat recovery steam generator (HRSG) unit for $250 million provides critical engineering and manufacturing capacity that GE needs as its Alstom-linked sales increase, Joe Mastrangelo, Chief Executive Officer of GE's gas power systems business, said in an interview. New equipment orders in GE's power division, excluding Alstom, fell 11 percent in the second quarter. But since the Alstom deal closed last November, GE has added 30 orders for heat recovery steam generators to its backlog, Mastrangelo said, noting that the company typically sold 14 per year before the acquisition.