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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
07/15/201417:53:10ADR Shares End Mixed; British American Tobacco Shares Trade Actively
07/14/201418:17:33Trans States to Buy up to 100 Embraer Jets
06/01/201420:26:10Bombardier Sees No Impact to CSeries Schedule From Engine Fault
06/01/201409:13:15Airbus Says A320neo Jet Remains On Schedule
05/30/201418:44:20New Bombardier Jet Suffers Major Engine Failure -- 2nd Update
05/20/201417:27:10ADR Shares End Lower; Vodafone, Embraer Shares Active
05/15/201413:00:07Air Canada Loss Widens
05/15/201412:38:34Air Canada Loss Widens -- Update
01/28/201416:09:25Brazil Stocks End Slightly Higher; Vale, Embraer Gain
12/12/201308:20:04American Airlines Signs Jet Deals
12/03/201313:40:23Bombardier Names New Commercial Aircraft Sales Chief
11/15/201309:10:30Caxton Associates LP 3Q 13F: Largest Eliminations
11/15/201309:10:28Caxton Associates LP 3Q 13F: Holdings As Of Sep 30 -2-
11/15/201309:10:27Caxton Associates LP 3Q 13F: Holdings As Of Sep 30
11/15/201307:10:27AQR Capital Management 3Q 13F: Largest Purchases -2-
11/15/201307:10:23AQR Capital Management 3Q 13F: Largest Sales
11/04/201316:57:16ADR Shares End Higher on Upbeat China, Europe Data
10/29/201309:00:51JetBlue 3rd-Quarter Profit Up 58%
10/22/201314:04:27Embraer, Mahindra Mull Offers for Beechcraft -Bloomberg
10/10/201316:05:29EgyptAir Most Likely Will Lease Jets to Increase Fleet -Bloomberg

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