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GE to sell $3 billion industrial solutions business

Published 12/14/2016, 05:04 PM
Updated 12/14/2016, 05:10 PM
© Reuters. The General Electric logo is pictured on the General Electric offshore wind turbine plant in Montoir-de-Bretagne
GE
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(Reuters) - General Electric Co (N:GE) 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. (http://invent.ge/2gJLoWW)

© Reuters. The General Electric logo is pictured on the General Electric offshore wind turbine plant in Montoir-de-Bretagne

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

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