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General Electric (USA) seeking to exit its railway business

  • 27-10-2017 12:31am
    #1
    MGWR
    Closed Accounts Posts: 611 ✭✭✭


    They've been in the electric locomotive business since the end of the 19th century, and their first diesel (in conjunction with Alco and Ingersoll Rand) came out in 1925: a Bo-Bo boxcab shunter for the Central Railroad of New Jersey, no. 1000.

    Reuters
    General Electric Co. is exploring divesting its transportation and healthcare information technology businesses, as it seeks to reshape its portfolio under new Chief Executive John Flannery, people familiar with the matter said. ...

    GE’s transportation business, which generated revenue of $4.7 billion in 2016, manufactures freight and passenger trains, marine diesel engines and mining equipment, among other products. ...


Comments

  • #2
    tabbey
    Registered Users, Registered Users 2 Posts: 1,943 ✭✭✭tabbey


    MGWR wrote: »
    They've been in the electric locomotive business since the end of the 19th century, and their first diesel (in conjunction with Alco and Ingersoll Rand) came out in 1925: a Bo-Bo boxcab shunter for the Central Railroad of New Jersey, no. 1000.

    Reuters

    Presumably it will be sold as a going concern, to the highest bidder.

    Probably a Chinese, Japanese, Indian or Middle Eastern investor.


  • #3
    Doltanian
    Banned (with Prison Access) Posts: 1,201 ✭✭✭Doltanian


    Covfefe won't be happy about this.


  • #4
    dermo888
    Site Banned Posts: 160 ✭✭dermo888


    That object? Is it ever happy?


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