Wall Street Journal: GE considers selling locomotive-making division

RELATED TOPICS: SUPPLIERS | LOCOMOTIVES | PEOPLE
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BOSTON — GE executives may be getting out of the locomotive business.

A Wall Street Journal report published online Thursday cites unnamed sources saying the company is looking to "partner, spin off, or possibly sell" GE Transportation, which includes the storied locomotive business, as well as heavy-duty diesel engines, and mining equipment. All the products lines share similar components and operating environments.

A GE Transportation representative tells Trains News Wire that the company does not comment on speculation.

The rumors come in the same month that GE executives announced disappointing earnings in the third quarter while also saying they plan to slash $20 billion in businesses in the coming two years. GE also recently appointed a new CEO for GE Transportation, Rafael Santana, who takes over Nov. 1 after serving years in the company's GE Latin America unit.

GE Corporate headquarters is in Boston. GE Transportation has a headquarters in Chicago, but makes locomotives at shops near Erie, Pa., and Fort Worth, Texas. The Erie location has produced GE locomotive and parts since 1911.

See the original article online.
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