General Electric Co. (GE, Fairfield, CT) announced the opening of its first European research and development center in Germany. The company will invest $52.0 million over the next five years to locate a 150-scientist research facility on the Garching campus of the Technical University of Munich. The facility will be part of GE Global Research, which conducts advanced research and development for all of GE's businesses.
The Europe technology center will concentrate on innovative development projects in areas such as renewable energy, medical imaging, and materials science. The center will also develop advanced applications for the automotive industry. GE plans to start construction of the new center in the first quarter of 2003, with the research facility beginning operations early in 2004. The plan calls for approximately 25 researchers to be hired within the next year, increasing to 150 by 2005.
