GE aims to sell power, medical gear to Cuba
Paul Davidson, USA TODAY 11:03 a.m. EDT March 22, 2016
General Electric is exploring the sale of aviation, healthcare and
energy equipment to Cuba as the U.S. moves to lift a 55-year-old trade
embargo against the country.
On Monday, GE and the Cuban government signed memorandums of
understanding, or MOUs, to “express our joint interest in exploring
potential opportunities” in those sectors, GE said in a statement. While
the MOUs don’t assure that deals will get done, the company sees vast
“While we are at the early stages of evaluating the market potential, we
believe that Cuba has needs in areas where GE has solutions,
particularly in healthcare and infrastructure,” says GE spokesman Josef
The company said “any commercial activity will adhere to U.S. policy and
President Obama met in Havana Monday with Cuban President Raul Castro
and the two leaders held a news conference in a diplomatic milestone for
the two countries.
Last month, the head of GE’s oil and gas division visited Iran, which is
looking to increase its oil exports after a U.S. agreement to lift
sanctions against that country.
GE is shifting away from consumer-oriented products and services to
focus on infrastructure and industrial equipment. Early this year, GE
announced the tentative sale of its appliance business to China’s Haier
for $5.4 billion.
Source: GE aims to sell power, medical gear to Cuba –