GE to move engine plant to Canada as U.S. trade bank languishes

Mon Sep 28, 2015 10:00am EDT
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WASHINGTON, Sept 28 (Reuters) - General Electric Co said on Monday it will move production of large, gas-powered engines to Canada from Waukesha, Wisconsin, along with 350 jobs, because the company cannot access financing from the U.S. Export-Import bank.

In its latest salvo aimed at persuading Congress to renew the trade bank's expired charter, GE said it will invest $265 million in a new state-of-the-art manufacturing plant at a Canadian location yet to be determined.

Export Development Canada will provide export financing support for products made in the new plant, GE said. (Reporting by David Lawder; Editing by Susan Heavey)