General Electric Company (Fairfield, Connecticut, U.S.), makes diesel locomotives and Hollywood movies. It runs insurance companies and amusement parks. Among its long list of businesses is GE Industrial, which includes GE's home appliance business.
Investing in India
In May, GE Chairman and CEO Jeff Immelt said the company would spend U.S. $250 million in infrastructure and healthcare projects in India and said that GE intends to dramatically expand its industrial and financial presence in the country.
Investing in Appliance Park
GE makes appliances worldwide, but for decades its production hub has been the massive campus of buildings in Louisville, Kentucky, known as Appliance Park. In August, GE said it will add jobs and invest millions of dollars in the operation. GE Consumer & Industrial will spend U.S. $7 million to make wire dishwasher racks at Appliance Park’s Building 3. Production is expected to begin by the end of 2007. GE will also spend $5 million to ramp up a production line at Appliance Park’s Building 1 to make pedestals for front-load washing machines. That work will begin in early 2007.
In August, Lloyd G. Trotter was named to lead the Industrial business, succeeding John G. Rice, who was named head of GE's Infrastructure business.
GE Industrial includes the appliance business, GE Consumer & Industrial, as well as Plastics, Advanced Materials, Security, Sensing, Fanuc, Inspection Technologies, and Equipment Services. It is a U.S. $35-billion business that GE expects to grow earnings 15 percent in 2006.
GE Looks to Increase Sales in Korea
In September, GE formed agreements with sales company GE Korea to introduce four GE brands - GE, RCA, Monogram, and Hotpoint - in the Korean market. GE already has two agencies in Korea, White Consumer Electronics and GKA International, and aims to increase its share of the market, according to an IT Korea report.
The new agency will handle GE products including refrigerators, fridges, washing machines, dry machines, microwave ovens, and dishwashers. White Consumer Electronics has focused on sales of GE and Monogram refrigerators.
GKA International plans to aggressively market high-end refrigerators, including working with construction companies in the built-in market. It is also mulling over introducing 110 V 50 Hz products used in the U.S. market as a part of competitive price strategy instead of sticking with 220 V 60 Hz products.
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