GE to sell $3 billion industrial solutions business

Wed Dec 14, 2016 5:04pm EST
 
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(Reuters) - General Electric Co (GE.N: Quote) 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. (invent.ge/2gJLoWW)

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)

 
The General Electric logo is pictured on the General Electric offshore wind turbine plant in Montoir-de-Bretagne, near Saint-Nazaire, western France, November 21, 2016. REUTERS/Stephane Mahe - RTSSOCQ