logo-loader
viewGas Turbine Efficiency

Gas Turbine Efficiency diversification – industrial revenues up 600%

Gas Turbine Efficiency plc (AIM: GTE) a designer and manufacturer of cleaning, performance monitoring and control systems for gas turbines, was pleased to announce an increase in industrial based revenues and backlog for 2007.

After establishing the business in the aviation sector with Pratt & Whitney, GTE is now seeing success in the industrial arena. This is shown by growth in the first half of 2007. Revenues from the industry are expected to increase over 600% to $5.7m (H1 2006: $0.8m).

GTE achieved by extending its business model to four OEM areas in parallel. The Group also expanded its portfolio of offerings with the acquisition of Control Center, LLC and ARES Technology this year

Steven Zwolinski, CEO of GTE, said: "The benefits of GTE's long term strategy for the industrial segment of the business has resulted in tremendous progress in the first half of 2007 positioning the business for long term growth. The integration of Control Center, LLC 2007 and Ares Technology, LLC has exceeded expectations, significantly enhancing the Group's capabilities."

GTE's shares rose 3.0p (5.6%) to 56.50p on the day.

no_picture_pai.jpg
Gas Turbine Efficiency plc (AIM: GTE) a designer and manufacturer of cleaning, performance monitoring and control systems for gas turbines, was pleased to announce an increase in industrial based revenues and backlog for 2007.

After establishing the business in the aviation sector with Pratt & Whitney, GTE is now seeing success in the industrial arena. This is shown by growth in the first half of 2007. Revenues from the industry are expected to increase over 600% to $5.7m (H1 2006: $0.8m).

GTE achieved by extending its business model to four OEM areas in parallel. The Group also expanded its portfolio of offerings with the acquisition of Control Center, LLC and ARES Technology this year

Steven Zwolinski, CEO of GTE, said: "The benefits of GTE's long term strategy for the industrial segment of the business has resulted in tremendous progress in the first half of 2007 positioning the business for long term growth. The integration of Control Center, LLC 2007 and Ares Technology, LLC has exceeded expectations, significantly enhancing the Group's capabilities."

GTE's shares rose 3.0p (5.6%) to 56.50p on the day.

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Trigg Mining's Keren Paterson reports on 'fantastic high-grade results' from...

Trigg Mining Ltd (ASX:TMG) managing director Keren Paterson updates Proactive's Andrew Scott on the results from a recent drill programme at its Lake Throssell SOP Project in WA. She says they put 26 holes across the project and the assay results have them very excited. ''They've all pretty much...

16 hours, 11 minutes ago

2 min read