industrial
New York (AFP) - Multinational conglomerate General Electric announced Tuesday it will split into three separate, publicly-traded companies in the latest move by the industrial giant to shore up its fortunes. GE will spin off its healthcare and energy businesses, and the remaining core of the century-old company founded by Thomas Edison will focus on aviation. Hard hit by the 2008 financial crisis, the company has undergone several downsizing and restructuring efforts by multiple CEOs, and incurred massive debt. The Boston-based company said in a statement the split will leave the independentl...
AFP
New York (AFP) - Multi-national conglomerate General Electric announced Tuesday it will split into three separate companies each listed on the stock exchange, specializing in aviation, healthcare and energy. The storied Boston-based company said the split will leave the independently run businesses better positioned to "deliver long-term growth and create value" for customers, investors and employees. In a statement, General Electric said it would spin off GE Healthcare in early 2023, with GE expecting to retain a 19.9 percent stake. It would then combine three divisions -- GE Renewable Ener...
AFP
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