General Electric mulls Israeli R&D center

The center would be in addition to the company's present medical equipment development center in Haifa.

General Electric (NYSE:GE), one of the world's largest corporations, is considering expanding its research activities in Israel.

Last week, Israel Ambassador to the US Daniel Ayalon met GE SVP law and public affairs Ben W. Heineman, who serves on GE management's strategy committee. Heineman asked Ayalon for a briefing on Israeli economic developments.

Heineman said GE was planning to establish a presence in nanotechnology, homeland security technology, and alternative fuels. He is prepared to send a delegation to Israel to study business opportunities, including setting up an R&D center, in addition to the company's present medical equipment development center in Haifa. GE will hold further meetings with the Ministries of Finance and Industry, Trade and Labor to coordinate the delegation's visit.

GE spent $2.7 billion on R&D in 2003. The company's revenue from international activities totaled $60.8 billion in 2003, 45% of all revenue.

Published by Globes [online], Israel business news - www.globes.co.il - on January 9, 2005

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