Home » GE Likely to Spin Off Consumer & Industrial Businesses
GE Likely to Spin Off Consumer & Industrial Businesses
July 10, 2008
GE announced it is continuing to explore options for its Consumer &Industrial businesses with a primary focus on spinning-off the entire unit, which includes Appliances, Lighting and Industrial, to existing GE shareholders. The company announced on May 16 that a spin-off was one possible outcome of the strategic review of its Appliances division.
As we explored our options for Appliances, it became clear that the fastest, most efficient step we could take in completing the transformation of our Industrial portfolio would be to focus on a possible spin-off of the entire unit,"GE CEO Jeff Immelt said.
GE is a diversified technology, media and financial services company with products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, and media content.