GE Energy Opens New Jenbacher Gas Engine Packaging Operation at GE's Hangzhou Manufacturing Center in China and Diamond I's US-BX Enters Mock Trading Period

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City of Industry, CA --(www.USEquityNews.com)-- 10/16/2008 - Business Services industry alert provided by U.S. Equity News. Citing a significant growth in onsite power projects in Asia, GE Energy's Jenbacher gas engine business today announced the opening of a new regional engine packaging operation at General Electric's (NYSE: GE) manufacturing center in Hangzhou, the capital city of Zhejiang Province in southeast China. The new packaging operation will help support GE Energy's customers in China and Asia that are working to address their urgent energy and environmental challenges.


Diamond I, Inc. (OTCBB: DMOI), a reporting company trading on the OTCBB that is to change its name to "US BioFuels Exchange, Inc.," announced that the final stage of its beta testing, an extensive mock trading exercise, has been initialized. At the completion to the mock trading exercise, the "opening bell" will ring at the US-BX.

United Technologies Corp. (NYSE: UTX) said Thursday its third-quarter earnings rose 6 percent, as rising sales of elevators in China and Sikorsky helicopters helped shield the diverse manufacturer from the global economic slowdown. The strength of its business prompted UTC, whose companies include Otis elevator and Pratt & Whitney jet engines, to lift the lower end of its 2008 forecast. Hartford, Conn.-based UTC now expects per-share profit of $4.90 to $4.95 for the year, after raising the bottom end of its guidance from $4.80. Chief Executive Louis Chenevert said in a statement that order rates have slowed in some businesses "given the current turmoil," in global financial markets, but backlogs across UTC businesses remain strong.

Paint, coatings and chemicals maker PPG Industries Inc. (NYSE: PPG) said Thursday its third-quarter profit fell 39 percent as higher costs more than offset a jump in sales. For the three-month period ended Sept. 30, PPG posted earnings of $117 million, or 70 cents per share, compared with earnings of $191 million, or $1.15 per share, in the year-ago period.

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