Report: GE looking to make GE Transportation a separate company

RELATED TOPICS: SUPPLIERS | LOCOMOTIVES | TEXAS
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FORT WORTH, Texas — GE Corp. executives are looking to make GE Transportation a separate public company or merge it into another company that will ensure GE shareholders keep control of the business, the Wall Street Journal reports

Sources tell the Journal that GE executives may look to GE Transportation — a world leader in manufacturing diesel electric locomotives, large diesel engines, and a supplier of digital services — as a model for restructuring other divisions. Analysts say the company is under pressure from investors and the market to break-up the century-old industrial conglomerate amid years of declining profitability and new concerns over questionable accounting practices.

“GE is exploring a multitude of options for the divestiture of its Transportation business, and does not comment on rumors or speculation,” a GE representative tells Trains News Wire in response to requests for comment.

GE announced in July 2017 that it would shift all locomotive production from it’s 1910 facility in Lawrence Park, Pa., to Fort Worth. In November, the company announced plans to sell or spin-off the division which began with Thomas Edison’s work on electric locomotives in the late 1800s.  

See the original article online. 
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