General Electric (NYSE:GE) Forges Joint Ventures with Russian Companies

Focusing on high-tech medical diagnostic equipment and gas-powered electricity generation turbines, General Electric (NYSE:GE) has entered into partnership with a couple of Russian businesses to manufacture and sale the products and services in Russia.

General Electric and CEO CEO Jeffrey Immelt have stated in the past that emerging markets like Russia are the place it wants to invest in for growth, as the American market matures in most sectors and segments.

The two companies General Electric will work with are Russian Technologies and INTER RAO UES JSC, both state-owned firms.

Russian Technologies will work with GE on high-tech medical diagnostic equipment, while both companies will work with GE on the turbines.

GE was trading at $18.14, up $0.10, or 0.53 percent, as of 1:26 PM EST.