GE Oil & Gas announced in a press release that it will establish its new global headquarters in London. Florence, Italy, will remain the global headquarters for GE Oil & Gas Turbomachinery Products & Services, a more than US $6 billion business and a key manufacturing and engineering site for the production of centrifugal compressors and gas turbines.

“London was selected as the new headquarters location given its position as a leading international business and travel hub. From this location, a team of leaders from our global support functions will be able to more efficiently reach and serve our colleagues and businesses globally,” Dan Heintzelman, president and CEO of GE Oil & Gas, said in the press release.

The new global headquarters will support the business and 43,000 employees working in more than 100 countries. GE Oil & Gas expects to relocate a limited number of employees, mainly association with support functions, to London, according to the press release. The new headquarters will be operational in London starting in January 2014.

GE Oil & Gas continues to experience positive growth in Italy – since 2009 the number of employees has grown by almost 10%. From 2011 to 2012 revenues have grown by almost 16%, with the company currently employing around 5,200 employees in Italy, according to the press release.