John G. Rice, President and CEO of GE Infrastructure

What is it like doing business with the French?

We love doing business with the French because they have a passion for growth, a passion for excellence and a passion for execution.

What does France have to offer?

France has tremendous qualities to offer a company like GE, starting with a tremendous educational system, focus on investment and the development of new technology and the creation of a framework to allow companies here to compete on a global scale.  That is exactly what we need for our success.

R&D is at the root of GE’s success.  Is France a good place for R&D?

France is an excellent place for R&D. There are well educated people, great engineers, who have a passion for creating next generation technology.

What makes France different?

France has withstood the test of time. People in France have the benefit of tremendous history but are also focused on the future and focused on doing what is necessary to keep their companies and businesses successful and competitive in a global environment.

What else makes France attractive to you as an investor?

As an investor, we like to put our money in places where the rules do not change, where we can count on good, consistent governance, with openness and integrity.  We like to be in a place where our investments will grow and succeed and prosper, not just for France but to allow us to compete in a global economy.

France is very traditional.  Why has your company done so well in France?

One of the reasons we have been successful in France is that we are prepared to invest in the long term.  We take our stakes, we develop our joint ventures, we make our investments not to sell them in the next five or 10 years but with the expectation that we will be partners for a long time or forever.

Your site in Belfort is one of the most successful in France:can you talk about it?

About 10 years ago, we invested in a gas turbine business that is headquartered in Belfort, France. Since that time, this business has grown to where, today, it employs over 1,800 people.  We have added 500 jobs there in the past few years and this business competes on a global scale.  It produces our 50Hz turbines for delivery to customers all over the world and it proves that, with the right combination of talent, investment and commitment that one can compete on a global scale from France.

What are the next projects for GE Infrastructure in France?

We are constantly looking at the landscape to see what other partnerships, what other relationships or alliances we should have here. Also, we have to expand what we have. We have great partnerships with Safran; the Snecma joint venture is one of the most successful joint ventures in the history of our company. We produce a world class jet engine and various components. We would like to recreate relationships like that.

On a personal level, what do you think of France?

France is beautiful; it is fun and is full of very creative people. It changes and is a little bit different each time you visit, and you can always learn something here.

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