General Electric Co. may use proceeds from selling its plastics unit to buy health-care technology developers as well as energy services and equipment makers to tap faster-growing markets, The Bloomberg News reported on Friday.

The report said the world's second-biggest company by market value is seeking as much as 10 billion dollars for the plastics unit.

Chief Executive Officer Jeffrey Immelt has spent almost 70 billion dollars on acquisitions since taking the helm in 2001, and GE may focus on health care, energy services and oil-drilling equipment next, said the report.

"They want to continue to bulk up," said Stephen Hoedt, an analyst with National City Corp. in Cleveland, which owns more than 21 million shares of GE.

The report said the potential targets for Fairfield, Connecticut-based GE include instrument maker Waters Corp. and software makers Vital Images Inc. and Allscripts Healthcare Solutions Inc.

Energy possibilities include oilfield-equipment makers Cameron International Corp., FMC Technologies Inc. and Dril-Quip Inc., according to the report.

Source: Xinhua