electrolux to vacuum up ge appliances for $3.3 billion - industrial air conditioner

by:HICOOL     2021-10-11
electrolux to vacuum up ge appliances for $3.3 billion  -  industrial air conditioner
The hallmark of the GE era: the electrical business is no longer its business.
Electrolux has more style.
GE said on Monday it had agreed to sell its electrical business to Sweden.
Based in Electrolux, it costs $3.
With 3 billion of the cash, GE got rid of the last direct connection with consumers and instead focused on higher-margin industrial enterprises.
GE's deal in Louis, Kentucky. -
The US-based refrigerator, washing machine and air conditioning business is expected to be closed in 2015 and Electrolux will be allowed to use the GE appliance brandterm agreement.
For years, GE, which makes jet engines and industrial power systems, has been weighing the pros and cons of selling its electrical equipment.
Good business-
Well-known brands, but its profit is less than the group's heavy-
Industry products that provide regular service revenue. Second-
The quarterly profit for appliances and lighting was $0. 102 billion, just a fraction of the profits offered by the electricity and water business or airlines, with each company making more than $1 billion in profits.
For Electrolux, the deal-
The biggest ever-
It will significantly expand its operations in North America, making vacuum cleaners and appliance companies a stronger competitor against Whirlpool.
Ge ceo Jeff Immelt said in a statement on Monday: "We are creating a new type of industrial company with a balanced, competitive infrastructure business portfolio.
In recent years, GE has realigned its portfolio to focus more on industrial operations, while reducing its reliance on the financial sector.
GE won a majority stake in French engineering giant Alstom in June.
Last month, it completed the initial public offering of Synchrony Financial, the North American retail finance business, the first step in the phased exit of the business.
GE also spun off its former entertainment business, NBCUniversal, to sell it to cable operator Comcast.
Electrolux and GE's first micro-manufacturing plant are all members of the AllSeen Alliance, which aims to set standards for the internet of things, and the concept that household appliances will communicate with computers and mobile devices through the Internet.
The acquisition included a 48.
Mabe, a Mexican electric appliance company, holds a 4% stake.
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