Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

GE's New Focus: Spinning-Off Entire Consumer & Industrial Unit
Jul 11, 2008
 Printable format
 Email this Article
 Search
GE is changing its tack with regards to divesting its Appliances business. The focus now is on spinning off the entire Consumer & Industrial business unit—not just the Appliances business— to existing GE shareholders. Consumer and Industrial includes appliances and lighting. GE announced in May that it would look for ways of divesting its appliance business, which markets largely to markets in North America and has suffered with the U.S. economic downturn. While several possible buyers have been mentioned by Chairman and CEO Jeff Immelt, none of them are apparently moving fast enough. “It became clear that the fastest, most efficient step we could take in completing the transformation of our Industrial portfolio would be to focus on a possible spin-off of the entire unit,” Immelt said yesterday. He said a spin-off makes sense for the Consumer & Industrial business as well. "They have integrated processes, distribution and backroom operations. Consumer & Industrial would benefit by keeping a world-class leadership team intact, its employees together, and would have the ability to control their own destiny. I am pleased that Jim Campbell and his team remain committed to this effort."

Back to Daily News

 

Daily News

...........................................................

Oct 22, 2014: Middleby to add U-Line to residential appliance business

Oct 22, 2014: iRobot's 3Q exceeds expectations, driven by Home Robots growth

Oct 22, 2014: Whirlpool Canada named 2014 Energy Star Manufacturer of the Year

Oct 22, 2014: ACCA wants the HVAC manufacturers to develop open, universal communication protocols

Oct 22, 2014: IHA launches website to connect OEMs with consumers

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014
May 2014: Appliance Magazine Market Insight: March 2014
April 2014: Appliance Magazine Market Insight: February 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows