General Electric Is Selling Its $3 Billion Industrial-Solutions BusinessThis comes as part of a push to focus on its core businesses.
ByReuters•
This story originally appeared onReuters
General Electric Co. 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.
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)
