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Published in TZ Latest News 19 May, 2015 by The TZ Newswire Staff

Exclusive: GE says to lose Angola locomotive deal if Ex-Im Bank closes

General Electric Co (GE.N) would lose a $350-million deal to build locomotives for Angola, and perhaps billions of dollars more in future export opportunities, if Congress closes the U.S. Export-Import Bank, a senior GE executive told Reuters. “It would be gone,” GE Transportation unit president Russell Stokes said of a not-yet-finalized agreement announced by the global conglomerate in March for 100 lightweight diesel-electric locomotives to be built in Erie, Pennsylvania.

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