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GE to sell $3 billion industrial solutions business

Posted by: Admin | Posted on: December 14th, 2016 | 0 Comments


General Electric Co (GE.N) said on Wednesday it would sell its $3 billion industrial solutions business, which makes electrical equipment, as part of a push to focus on its core businesses.

The industrial conglomerate expects to raise about $4 billion from the sale of the unit as well as the previously announced sale of its water business, GE said in an investor presentation. (invent.ge/2gJLoWW)

The industrial solutions business has about 13,000 employees and 30 plants globally.

(Reporting by Anya George Tharakan in Bengaluru; Editing by Savio D’Souza)

Article source: http://feeds.reuters.com/~r/reuters/businessNews/~3/Noalee_t2Uc/us-ge-m-a-idUSKBN1432WF

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