HOUSTON--(BUSINESS WIRE)--Dec. 11, 2002--GE Industrial Systems, a $6 billion unit of the General Electric Company (NYSE: GE), today announced a five-year master agreement to provide ChevronTexaco Corp. (NYSE: CVX) with GE large, energy-efficient motors, and electrical transmission and distribution equipment for ChevronTexaco facilities worldwide.
The products and associated services supplied to ChevronTexaco's global facilities by GE will distribute, protect, and control electric power as well as drive critical production and refining processes.
GE said the agreement is worth up to $80 million per year for each of the five years. The agreement will impact production at GE Industrial Systems facilities in Brazil, Canada, Mexico, Puerto Rico and the U.S.
Among the products that GE will provide to ChevronTexaco in the agreement are low- and medium- voltage switchgear; power equipment centers; power transformers and energy-efficient motors.
The agreement applies to all ChevronTexaco operating units. GE electrical products have been at the heart of the world's industrial progress for over a century, said Lloyd G. Trotter, president and CEO of GE Industrial Systems.
Through the company that Thomas Edison founded in 1892, GE innovations helped to safely harness the awesome power of electrical energy for progress on a global scale.
Today, we're still helping to protect the people and properties using electricity to make the world a better, safer place. With this long-term agreement, we are proud to help ChevronTexaco to supply the world's energy needs safely and efficiently.
About ChevronTexaco
Headquartered in San Francisco, ChevronTexaco Corp. is the second-largest U.S.-based energy company and the fifth largest in the world, in terms of market capitalization.
More than 53,000 ChevronTexaco employees work in approximately 180 countries around the globe, producing oil and natural gas and selling fuels and other energy products.
For more information on ChevronTexaco, please visit: www.chevrontexaco.com.
About GE Industrial Systems
Since the founding of the General Electric Company by Thomas Edison in 1882, GE Industrial Systems has been known for technical innovation.
GE Industrial Systems has over 7,600 U.S. and foreign patents on products that help provide peace of mind for people, the properties they own and their workplaces.
In 2001 alone, GE Industrial Systems filed more than 200 U.S. and 340 foreign patent applications.
GE Industrial Systems spans the globe as an industry leader in integrated industrial, electrical and security equipment, systems and services.
The business brings to customers the latest technological products used to distribute, protect and control electrical power and equipment, and provides innovative product and service solutions for commercial, industrial, residential and utility applications.
For more information visit the website at http://www.GEIndustrial.com.
About GE
The General Electric Company (NYSE: GE) is a diversified technology and services company dedicated to creating products that make life better. From aircraft engines and power generation to financial services, medical imaging television programming and plastics, GE operates in more than 100 countries and employs more than 300,000 people worldwide.
For more information, visit the company's Web site at www.ge.com.
Editors: For more information and photography about GE Industrial Systems products that help provide peace of mind and protection for people, their properties and workplaces, please visit our online media center at: http://www.geindustrial.com/presscenter/pressroom.htm.
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CONTACT: GE Industrial Systems
Terry Dunn,
860/747-7397
E-mail: [email protected]
or
ChevronTexaco Corporation
Media Relations:
Stan Luckoski, 925/842-2589
E-mail: [email protected]