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General Electric To Invest BRL500 Million In Brazil Technology Center

RIO DE JANEIRO -(Dow Jones)- General Electric (GE) said Thursday it will invest 500 million reais ($245.5 million) in a research and development center in Rio de Janeiro. The center, which should be operational in the second half of 2013 and employ 400, will focus on development of biofuels, alternative-energy systems, intelligent systems and systems integration, said Ken Herd, GE's global research center head in Brazil at a ceremony to mark the laying of the center's foundation stone. Mark Little, a GE vice president, said the center also will develop subsea technologies together with clients including Petroleo Brasileiro SA (PBR, PETR4.BR), Statoil ASA (STO, STL.OS) and OGX (OGXPY, OGXP3.BR). "We will try to understand the specific needs of these companies," Little said. "Presalt is a major challenge for the Brazilian oil industry." In the areas of biofuels, the center will work on production and use of biodiesel in locomotives and biokerosene for aircraft, he said. The center also will study how to break down bagasse, which is used in ethanol production, to reuse its water content and produce more energy that can be sold to the grid, Little said. GE already has signed accords with Petrobras, Vale (VALE, VALE5.BR), OGX and Embraer (ERJ, EMBR3.BR) for the development of projects of interest to those companies, the executive said. -By Diana Kinch, Dow Jones Newswires; 55 21 7564 4495; Diana.Kinch@dowjones.com

Stock News for Embraer Empresa Br (ERJ)
DateTimeHeadline
07/29/201608:52:44Report of Foreign Issuer (6-k)
07/29/201608:38:00EMBRAER S.A. MATERIAL FACT
07/29/201607:45:43Report of Foreign Issuer (6-k)
07/29/201607:19:24Report of Foreign Issuer (6-k)
07/29/201606:00:00Embraer Releases Second Quarter 2016 Results
07/11/201618:45:00ADRs End Higher; Financial Firms Rise
07/11/201616:40:36Report of Foreign Issuer (6-k)
07/11/201616:34:56Report of Foreign Issuer (6-k)
07/11/201616:31:19Report of Foreign Issuer (6-k)
07/11/201616:26:58Report of Foreign Issuer (6-k)
07/11/201616:22:38Report of Foreign Issuer (6-k)
07/11/201609:15:19Report of Foreign Issuer (6-k)
07/11/201609:08:00Embraer Delivers 26 Commercial and 26 Executive Jets in 2Q16
07/11/201607:39:00Embraer and Boeing to Collaborate on Worldwide Sales, Support...
07/08/201607:30:00How These Aerospace and Defense's Stocks are Performing? - Embraer...
07/07/201611:30:00Boeing, Embraer Unveil Newest ecoDemonstrator Aircraft
07/07/201606:03:35Report of Foreign Issuer (6-k)
06/30/201609:40:00Alcoa to Supply Embraer in $470 Million Contract
06/22/201606:04:09Report of Foreign Issuer (6-k)
06/10/201606:04:41Report of Foreign Issuer (6-k)

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