Considering the current situation, “2009 could slightly slow our activity in the region,” said the company official. According to Business Standard calculations, based on market data, GE posted some $460 million in sales revenues in Romania, Bulgaria and Republic of Moldova in 2008, up 15 percent year-on-year. Colteanu said that GE weathered the 2008 “storm” very well.
The group’s regional CEO said that the world had experienced a “cascade effect” through successive crises and their additional impact on loans, housing, financial systems, high unemployment, inflation, and recession. However, the U.S. giant sees incredible opportunities and is “determined to win.”
“GE’s major advantage is that we have a well consolidated our local position and we are managing a diversified business portfolio, which meets client needs and is in compliance with the government’s development priorities and programs,” Colteanu said.
