FAIRFIELD — The Saudi Electricity Co. (SEC) has selected General Electric (GE) to provide gas turbine technology for the expansion of four power plants in Saudi Arabia, in a deal valued at greater than $500 million.
GE also will provide technical advisory services as well as performance testing for the plants. The company’s power-generation technology and services are contributing to the creation of nearly half of Saudi Arabia’s capacity.
These contracts put GE’s total orders for SEC in the last two years at more than $2 billion, with the company also having invested more than $100 million in Saudi Arabia over the last two years. It will soon open its GE Energy Manufacturing Technology Center in Dammam.
SEC plans for a 600-megawatt expansion of its plant in Qurayyah, 480-megawatt expansions of the PP-10 power plant south of Riyadh City, and at Qassim, and a 120-megawatt expansion of a facility near Tabouk.
The expansions will supply additional power to Saudi Arabia’s eastern and central regions, adding 1,680 megawatts of power to the Saudi grid in time for the high demands during summer months. The country’s electricity demand has been growing at a rate of about six percent annually. The plants also will add more than 100 new local jobs.
TOLLAND — Gerber Scientific will sell one of its facilities as well as cease production of flatbed printers immediately, as part of the company’s efforts to restructure and streamline its business and cut costs. Gerber officials are also deciding whether to make more job cuts as part of those efforts.
The company has agreed to sell its South Windsor facility by July 1, and will lease back a portion of it from the new owners for a year. The $6.8 million proceeds will be used to reduce outstanding corporate debts.
Gerber will also stop production of UV flatbed printers as it focuses more on apparel and industrial businesses. It will however provide service and support for its printers for at least five years. Production of thermal products such as the EdgeFX printer, Omega software and specialty graphics materials will continue.
President and CEO Marc Giles said the company could no longer justify the costs of the printer line due to a market that hasn’t improved since the end of the recession. The company said its actions will result in cost savings of about $3.3 million.
If additional job cuts are okayed they could result in annual savings up to $4.3 million. Giles said during the third quarter that about 400 jobs had been eliminated since the 2009 fiscal year through March 3 — roughly 20 percent of the company’s workforce.
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