GEIP does have a tool that converts AB code into GE code. It is available for download by most distributors, but has little support. I don't know which processors or logic is supported but it is not very new. Contact your supplier and have them search on Elitenet files.
YMMV, but IMHO, unless your project is "really special" in some way you will end up with a better system if you use the GE tools to build your logic from the ground up following a good sequence of operations and/process map supplied by whoever knows the system best. http://support.ge-ip.com/support/index?page=spage&id=ST6&locale=en-US&locale=en_US