GE oil business seeks to outpace market, improve margins

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GE oil business seeks to outpace market, improve margins

<p><a href="http://news.yahoo.com/ge-oil-business-seeks-outpace-market-improve-margins-054049456--sector.html"><img src="http://l3.yimg.com/bt/api/res/1.2/ZV5pUmGarXjVlt7ARJBCrQ--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2014-09-07T054049Z_1006950001_LYNXMPEA8602M_RTROPTP_2_CBUSINESS-US-GE-ENERGY.JPG" width="130" height="86" alt="The logo of US conglomerate General Electric is pictured at the company's site in Belfort" align="left" title="The logo of US conglomerate General Electric is pictured at the company's site in Belfort" border="0" /></a>By Lewis Krauskopf NEW YORK (Reuters) - General Electric Co's fast-growing oil and gas business that supplies equipment and services is improving profit margins and is well-placed to outpace industry growth over the next several years, a top unit executive said in an interview. The unit's profitability is likely to be a prime topic for analysts and investors on Wednesday, when GE holds a half-day presentation in New York on its oil and gas business. &quot;We're driving profitability up for this business as we look into the '14 time frame and as we look into the strategic plan we lay out for the next three years,&quot; said Rafael Santana, president of GE's turbomachinery solutions division, the largest business within oil and gas. The oil and gas unit will be a &quot;key part&quot; of driving toward Immelt's profit margin target for the whole company, Santana said on Friday.</p><br clear="all"/>

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