General Electric Eyes Nuclear Components Business

GE's nuclear energy unit signed memoranda of understanding as part of a bid to take a piece of the nuclear components market in Poland.

NEW YORK (AP) -- General Electric's nuclear energy unit said Wednesday it has signed memoranda of understanding with a shipyard operator and a boiler equipment maker as part of a bid to take a piece of the nuclear components market in Poland.

The move by GE Hitachi Nuclear comes as the state-owned Polish utility PGE Polska Grupa Energetyczna SA looks to develop the nation's first two nuclear generating stations.

The utility is evaluating several reactor technologies for the plants, including two GE Hitachi Nuclear reactor designs, the company said.

GE Hitachi Nuclear signed memoranda of understanding with shipyard operator Stocznia Gdansk and boiler equipment manufacturer Rafako SA.

"These agreements provide the potential for a significant expansion of GEH's global equipment supply chain, underscoring our commitment to deliver new nuclear power plants on a predictable time schedule and on budget while supporting the Polish economy," said Danny Roderick, GE Hitachi's senior vice president of new plant projects.

GE Hitachi Nuclear was created in 2007 by GE and Hitachi to serve the global nuclear industry.

Shares of GE added 2 cents to $20 in afternoon trading.

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