Lorenzo Simonelli, General Electric Company (NYSE:GE) Oil & Gas CEO discussed company’s integration between different sectors and how it is using technology to refine its services in a program on CNBC. He said that Oil and Gas sector of General Electric Company (NYSE:GE) takes full advantage from other experts within the company.
“The benefit we have of being part of GE is that we get this wealth, from the other General Electric businesses and we get wealth of the global research centers […],” said Simonelli.
Simonelli claimed that GE Oil and Gas can use the expertise and knowledge base of no less that 50,000 engineers of the company for own sector’s growth. He also talked about aviation business and said that GE Oil and Gas can actually use the practical dynamics of regulatory aspects of General Electric Company (NYSE:GE) and use if for the useful purposes. Talking about material management aspect of the business, Simonelli stated that his domain uses knowledge of carbon fiber of blades as an opportunity to analyze the minute details of material and integrate it with the oil and gas sector. Power and water is another sector in which GE Oil and Gas is benefiting from its peer sectors within the company and knowledge regarding power turbines helps his department at a very large scale.
According to Simonelli, in the Healthcare sector, General Electric Company (NYSE:GE) Oil and Gas nurtures its monitoring and diagnostics capabilities by taking full use of the expertise of the related department. He said that the company has a lot of focus on reducing unplanned downtime for its customers. He mentioned company’s sophisticated center in San Ramon, where 1,000 software engineers are working to make sure that there is a high predictability about the equipment on the ground.
Berkshire Hathaway, managed by Warren Buffett, is one of the shareholders of General Electric Company (NYSE:GE), having approximately 10.6 million shares of the company.