General Electric to sell gas turbine business

General Electric to sell gas turbine business

According to Reuters, the US conglomerate General Electric is preparing to sell its industrial gas turbine business worth an estimated $ 2 billion, or nearly 1.6 billion euros.

GE Managing Director John Flannery commented on this. In front of several investors and analysts, he stressed that he was in favor of the idea of ​​a split of GE and that one of its divisions could be put on sale.

As part of this reflection, the group also attempted to examine the opportunities available for its transportation, lighting and health activities.

Improving the conglomerate’s performance

In fact, if the industrial gas turbine business were divested, the conglomerate could simplify the operation of its energy generation unit, which saw its profit dive by 45% in 2017.

This gas turbine manufacturing activity includes the Waukesha and Ensacher models, intended for the energy supply of industrial sites. GE’s products in this market segment range from small to medium-sized turbines ranging from 100 kilowatts to 10 Megawatts.

According to some sources, the preparation of this sale could be attributed to Citigroup, a major financial company based in New York. The spokesman for the group, however, declined to provide more information on this subject.