PETERBOROUGH, ON, Nov. 13, 2014 /CNW/ - Today, GE Canada announced that TransCanada Corporation has awarded GE Canada's Peterborough motors facility a contract to build customized electrical motors for the company's Energy East pipeline project. The contract is expected to create 250 jobs within GE and GE's local supply chain over a 2-year period.
Over the past 5 years, GE has invested approximately $65M, with support of the Government of Ontario, to modernize its Peterborough plant to increase opportunities for national and global business wins. The contract from TransCanada is the first win as a result of the modernization investment. The electric motors now being built for TransCanada in Peterborough would have previously been made by GE in South America. The contract supports TransCanada's continuing efforts to create economic development in Canada by providing job and supply chain opportunities from its ongoing energy infrastructure investments within the country. Work is anticipated to begin following final decisions from the National Energy Board and the Government of Canada on the Energy East pipeline.
Selected Quotes:
Elyse, Allan, President and CEO GE Canada:
"TransCanada's Energy East project will generate jobs in Peterborough, and with our local suppliers. Today's announcement recognizes GE's investment in advanced manufacturing and our employee's expertise in building high quality motors to support Canada's oil and gas sector. We are optimistic that this is just the beginning of many opportunities that will be generated from TransCanada's critical infrastructure investment."
Brad Duguid, Minister of Economic Development, Employment, and Infrastructure
"This investment by GE is a great example of the opportunities that Ontario's highly skilled workforce and strong advanced manufacturing sector attract. Our government's priority is to continue fostering an innovative business climate to ensure that companies, like GE, can continue attracting investments and creating good paying jobs across Ontario."
Rhonda Barnet, VP Finance, Steelworks Design
"Steelworks Design regularly bids on significant machinery requirements to support new innovation at the Peterborough Facility. "Today's announcement is sure to positively impact many local manufacturing facilities like ours. Our company is growing, we have been able to scale globally, and now service 5 divisions of GE around the world as a result of opportunities like this."
Alex Pourbaix Executive Vice-president and President Development TransCanada
"We are pleased to be partnering with GE in the development of the Energy East Pipeline Project. GE's knowledge and expertise in energy technology will enable TransCanada to safely and reliably move a secure supply of oil from Western to Eastern Canada, creating jobs and economic growth along the way, including right here in Peterborough. The Energy East project is expected to bring over 4,200 full-time jobs to the province of Ontario in the first seven years alone, along with $15 billion in GDP to the Ontario economy. To date, TransCanada has already spent over $30 million with Ontario businesses and suppliers in support of materials and goods needed for the project. This partnership with GE is just one example of the potential job and economic benefit opportunities that will come to the province of Ontario and we look forward to being a part of that."
About GE
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com/ca
SOURCE: General Electric Canada Inc.
Media Contacts: GE Canada, Rahim Ladha, [email protected], 1 647 281 7073, TransCanada; Grady Semmens, Lead, Major Projects and Business Communications, [email protected] 1 403.920.7859
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