GE brings Ã¢â‚¬ËœarmyÃ¢â‚¬â„¢ of partners
HOLLYWOOD, Fla. - GE Interlogix intends to bring an Ã¢â‚¬Å“armyÃ¢â‚¬Â of partners to the systems integrators and end users who use its products, said Lloyd Trotter, president and chief executive officer of GE Industrial Systems during the companyÃ¢â‚¬â„¢s annual users conference in May.
In a yearÃ¢â‚¬â„¢s time, the manufacturer of security products has grown exponentially since becoming part of the GE family of companies. And thatÃ¢â‚¬â„¢s not expected to stop any time soon for a market thatÃ¢â‚¬â„¢s viewed by GE executives as having significant potential.
Ã¢â‚¬Å“WeÃ¢â‚¬â„¢re looking for high growth,Ã¢â‚¬Â said Trotter, both through acquisitions and organic growth. But partnerships with outside companies and GE sister companies, he said, will also be key to help the Industrial Systems Division grow to $13 billion business in a matter of years from a $6 billion business today.
The security business expects to contribute significantly to that number, according to Ken Boyda, president and chief executive officer of GE Interlogix, by generating $3 billion in business by 2006. Today, security is a $1 billion business for the company.
Ã¢â‚¬Å“One of the strengths weÃ¢â‚¬â„¢ve always had is being adaptable as the market has changed and grown,Ã¢â‚¬Â said Boyda. Ã¢â‚¬Å“We have the resources to be looking longer term than we had before and we can drive that change.Ã¢â‚¬Â
Though the companyÃ¢â‚¬â„¢s growth goal may appear lofty to some, GE Interlogix is already well on its way to contributing to the Industrial Systems till and to changing the dynamics of the security market.
A string of acquisitions that include InfoGraphic Systems, fire company Kilsen, and the most recent purchase of Monitoring Automation Systems, are expected to add to the overall financial picture of the company. Not to mention that GE Interlogix plans to develop more than 50 new products this year, compared with only 30 new products last year.
But while it remains a guess which company GE Interlogix next plans to pack into its portofolio, becoming a service business and entering the installation market is not part of the plan, said Trotter.
Ã¢â‚¬Å“WeÃ¢â‚¬â„¢re not in the end-user business today. WeÃ¢â‚¬â„¢re better off upstream,Ã¢â‚¬Â said Trotter. Ã¢â‚¬Å“WeÃ¢â‚¬â„¢ve never, ever coveted being a contractor.Ã¢â‚¬Â