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General Electric Company (NYSE:GE): Current price $22.48
In Russia, GE Transportation, Locorail and Yakutia Railways have signed a Memorandum of Understanding through which to explore the formation of a strategic relationship to modernize diesel electric locomotives. The MOU creates a framework by which Yakutia Railways, under GE license, will modernize diesel electric locomotives at Yakutia Railways facility in Aldan, Russia employing GE FDL engine kits made at GE Transportation facilities in Erie and Grove City, Pennsylvania. Through the terms, GE Transportation will provide at least 20 FDL engine kits per year over five years.