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GE oil chief sees more growth even with Alstom deal

GE's (GE +0.8%) $16.9B bid for Alstom's power business won't slow down GE's oil and gas division, according to the head of the unit, even though such a transaction could preclude any more big deals for GE until after next year.

Revenue at the unit has jumped more than 80% to nearly 17% over the past four years, but the size of the Alstom bid could mean less investment at other GE units; GE brass have promised that the deal, if completed, would effectively use up most of what the company has set aside for M&A this year and next.

But GE Oil & Gas President Lorenzo Simonelli shrugs off such concerns, and expects the unit to increase revenue at a high single-digit percentage rate in the coming years.

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