2008/5/16 GE announces intent to seek strategic options for its appliances business
2008/7/10 GE Announces Its Intent To Explore Strategic Options For Consumer & Industrial With A Focus On Spin-Off
20087/25 GE Aligns around Core Industries: Infrastructure, Finance, Media
2006/9/21 GE、シリコーン事業を売却 2007/1/11 ＧＥがＧＥプラスチックスを売却か？ 2007/1/22 ＧＥについて 2007/5/22 速報 GE、GE PlasticsをSABICに116億ドルで売却 2007/7/15 GE、Abbott の診断機器部門買収を取り止め 2007/8/28 日本ジーイープラスチックスの合弁解消 2007/9/4 SABIC、GE Plastics の買収完了
July 25, 2008 GE
GE Aligns around Core Industries:
Infrastructure, Finance, Media
Strong leaders in place to drive execution and connection to markets;
John Krenicki named Vice Chairman of GE
GE Chairman and CEO Jeff Immelt today announced an organizational structure that simplifies the company and aligns businesses for growth and efficiency.
Immelt said, “GE is a global infrastructure, finance and media company that is well positioned to capitalize on some of the major growth themes of this era. With the announcement of our focus on a possible Consumer & Industrial spin-off, we can structure the company in a simpler way that can maximize future growth.”
“Infrastructure leads our growth, with revenues approaching $90B. Our infrastructure businesses are all global, technology based and have dynamic service opportunities. The new organization will put two strong leaders in position to drive execution,” said Immelt.
|Technology Infrastructure||Aviation||GE is the world's leading provider of aviation services and the leading producer of jet engines. We supply the world with engines for commercial, corporate, military and marine industries|
|Healthcare||GE provides medical technologies and services that are shaping a new age of patient care. From medical imaging and information technologies to diagnostics and drug discovery, we help clinicians around the world re-imagine new ways to help their patients live longer fuller lives.|
|Transportation||GE is the leading supplier to the world's railroads, pioneering locomotive and railroad management technologies that are economically advantageous and ecologically sound.|
|Energy Infrastructure||Energy||GE provides global technology-based products, services and complete solutions to the oil and gas industry.|
|Oil & Gas|
|Water & Process Technologies||For over 100 years, GE has been a leading global supplier of water treatment, wastewater treatment and efficient process systems solutions.|
|GE Capital||Aviation Financial Services||GE Commercial Finance serves clients in over 35 countries by providing loans, operating leases, financing programs, commercial insurance and equipment leasing to help global business grow.|
|Energy Financial Services|
|GE Money||GE Money is a leading provider of credit services, offering credit, loans, mortgages and more. We serve consumers, retailers, auto dealers and mortgage lenders worldwide.|
|NBC Universal||Cable||NBC Universal is a leading media and entertainment company in the development, production and marketing of entertainment, news and information worldwide.|
|Sports & Olympics|
Consumer & Industrial
|Appliances||GE is one of the largest manufacturers of major appliances in the world, producing Monogram®, GE Profile and many more brands.|
|Consumer Electronics||Built with reliability and usability in mind, GE products use the best of technology making life easier every room of the house.|
|Lighting||Since the day Thomas Edison discovered a better filament for the incandescent lamp, GE has been lighting up the world. 128 years later, we still provide a range of innovative products for consumer, commercial and industrial markets.|
|Electrical distribution||GE electrifies the world by providing energy products and services to more than 120 countries. With our coal, oil, natural gas, nuclear energy, water and wind technologies we can deliver solid productivity returns and significant environmental benefits.|
Effective immediately, GE moves from six to four segments, including two infrastructure segments:
GE Technology Infrastructure - Led by Vice Chairman John Rice, this segment includes Healthcare, Aviation, Transportation and Enterprise Solutions. These businesses have opportunities to leverage technology, software and engineering.
GE Energy Infrastructure - Led by newly appointed Vice Chairman John Krenicki, this segment includes Energy, Oil & Gas and Water. These technologies already work together with large customers, particularly in emerging markets.
GE Capital - Led by Vice Chairman Mike Neal, this segment aggregates all the financial service businesses including Commercial Finance, GE Money, industry verticals (GECAS, Energy Financial Services), and Corporate Treasury. This organization will improve GE Capital's opportunities to allocate capital, grow globally and reduce cost.
NBC Universal- Led by Jeff Zucker this segment is unchanged and will continue to focus on its strategic evolution through globalization and diversification.
“We have been upgrading our portfolio of businesses and simplifying our organizations for market focus, efficiency and execution,” Immelt said. “We have higher-growth, higher-margin businesses and organizationally have simplified the company from 11 business segments in 2001 to four segments today. At the same time, we have structured the company to best utilize our strong leadership team while maximizing synergy and execution.”
Immelt also announced that the GE Board of Directors had named Krenicki, 46, a 24-year GE veteran, as a vice chairman of GE.
“John is a world-class infrastructure expert, business strategist and commercial leader who has done a terrific job leading our Plastics, Transportation and Energy businesses,” Immelt said. “His clear thinking and broad global leadership experience will help drive growth across our energy and water infrastructure businesses.”
Since 2005, Krenicki has been president and chief executive officer of GE Energy, a leading supplier of power generation technology, energy services and energy management systems. Previously, he was president and CEO of GE Plastics and GE Advanced Materials. He also held a number of other leadership positions at various GE businesses, including vice president of the Americas for GE Lighting, vice president of GE Superabrasives and president and chief executive officer of GE Transportation Systems.
Krenicki earned a bachelor's degree in mechanical engineering from the University of Connecticut and a master's degree in management from Purdue University.
GE Specialty Materials includes GE Silicones, GE Superabrasives, GE Specialty Chemicals and GE Quartz.
|Advanced Materials||High-performance engineered plastics used in a variety of applications such as automotive parts, computer enclosures, telecommunications equipment and construction materials. Products also include structured products, silicones and high-purity quartzware. Products and services are sold worldwide to a diverse customer base consisting mainly of manufacturers.|
|Commercial Finance||Commercial Finance||Loans, leases and other financial services to customers, including manufacturers, distributors and end-users for a variety of equipment and major capital assets. These assets include industrial and energy-related facilities and equipment; commercial and residential real estate; vehicles; aircraft; and equipment used in many industries, including the construction, manufacturing, telecommunications and healthcare industries.|
|GE Capital||GE Money||Consumer Finance||Private-label credit cards; personal loans; bank cards; auto loans; leases and inventory financing; residential mortgages; corporate travel and purchasing cards; debt consolidation loans; home equity loans; and credit and other insurance products for customers on a global basis.|
|Industrial||Consumer & Industrial||Major appliances and related services for products such as refrigerators, freezers, electric and gas ranges, cooktops, dishwashers, clothes washers and dryers, microwave ovens, room air conditioners and residential water system products. Distributed to both retail outlets and direct to consumers, mainly for the replacement market, and to building contractors and distributors for new installations. Lighting products include a wide variety of lamps and lighting fixtures. Electrical distribution and control equipment includes power delivery and control products such as transformers, meters and relays. Also includes GE Supply, a network of electrical supply houses. Products and services are sold in North America and in global markets under various GE and private-label brands.|
the world's No. 1 provider of high-technology power generation equipment and services made significant efforts to help reshape the future of the energy industry.
|Energy||Power plant products and services, including design, installation, operation and maintenance services sold into global markets. Gas, steam and aeroderivative turbines, generators, combined cycle systems, controls and related services, including total asset optimization solutions, equipment upgrades and contractual services, are sold to power generation and other industrial customers. Renewable energy solutions including wind turbines and hydro turbines and generators. Advanced turbomachinery products and related services for the oil and gas market, including total pipeline integrity solutions. Substation automation, network solutions and power equipment sold to power transmission and distribution customers. Also includes portable and rental power plants, nuclear reactors, fuel and nuclear support services.|
|Equipment & Other Services||Rentals, leases, sales, asset management services and loans for portfolios of commercial and transportation equipment, including tractors, trailers, railroad rolling stock, modular space units, intermodal shipping containers and marine containers. Also included in the segment are activities and businesses that are not measured within one of the other financial services segments ? for example, corporate financial services expenses, liquidating businesses and other non-segment aligned operations.|
|GE Medical Systems||Healthcare||Healthcare||Medical imaging systems such as magnetic resonance (MR) and computed tomography (CT) scanners, X-ray, nuclear imaging and ultrasound, as well as diagnostic cardiology and patient monitoring devices; related services, including equipment monitoring and repair, computerized data management and customer productivity services. Diagnostic imaging agents used in medical scanning procedures, protein separations products including chromotography purification systems used in the manufacture of biopharmaceuticals, and high-throughput systems for applications in genomics, proteomics and bioassays. Products and services are sold worldwide to hospitals, medical facilities, pharmaceutical and biotechnology companies and to the life science research market.|
|Infrastructure||Infrastructure||Chemical water treatment program services and equipment; measurement and sensing equipment (products and subsystems for sensing temperature flow rates, humidity and pressure); security equipment and systems (including card access systems, video and sensor monitoring equipment, integrated facility monitoring systems and explosive detection systems); a broad range of automation hardware and software. Markets are extremely diverse. Products and services are sold to commercial and industrial end-users, including utilities; original equipment manufacturers; electrical distributors; retail outlets; airports; railways; and transit authorities. Increasingly, products and services are developed for and sold in global markets.|
|(exit in 2006)||Insurance||U.S.
and international multiple-line property and casualty
reinsurance, certain directly written specialty insurance
and life reinsurance, consumer investment, insurance and
retirement services, and private mortgage insurance.
|NBC||NBC Universal||NBC Universal||Principal businesses are the furnishing of U.S. network television services to more than 230 affiliated stations, production of television programs, the production and distribution of motion pictures, operation of 29 VHF and UHF television broadcasting stations, operation of cable/satellite networks around the world, operation of theme parks, and investment and programming activities in multimedia and the Internet.|
|Transportation||Jet engines and replacement parts and repair and maintenance services for all categories of commercial aircraft (short/medium, intermediate and long-range); for a wide variety of military aircraft, including fighters, bombers, tankers and helicopters; and for executive and regional aircraft. Products and services are sold worldwide to airframe manufacturers, airlines and government agencies. Also includes aircraft engine derivatives used as marine propulsion and industrial power sources; the latter is also reported in Energy. Rail systems products and maintenance services including diesel electric locomotives, transit propulsion equipment, motorized wheels for off-highway vehicles, and railway signaling communications systems.|
GEは14日、シリコーン事業のGE Advanced Materials をApollo Management, L.P.,に38億ドルで売却すると発表した。
2007/5/22 速報 GE、GE PlasticsをSABICに116億ドルで売却
GE Announces Its Intent
To Explore Strategic Options For Consumer & Industrial With A
Focus On Spin-Off
GE today announced that it is continuing to explore all options for its Consumer & Industrial businesses with a primary focus on spinning-off the entire unit -- Appliances, Lighting and Industrial -- to existing GE shareholders. The Company announced on May 16 that a spin-off was one possible outcome of the strategic review of its Appliances division.
“As we explored our options for Appliances, it became clear that the fastest, most efficient step we could take in completing the transformation of our Industrial portfolio would be to focus on a possible spin-off of the entire unit,” GE Chairman and CEO Jeff Immelt said. “This is consistent with the strategy we have been executing to transform the GE portfolio for long-term growth and makes sense for GE shareholders.”
“While we will continue to consider all opportunities for Consumer & Industrial, focusing on a spin-off makes sense for these great businesses as well. They have integrated processes, distribution and backroom operations,” Immelt said. “Consumer & Industrial would benefit by keeping a world-class leadership team intact, its employees together and would have the ability to control their own destiny. I am pleased that Jim Campbell and his team remain committed to this effort."
GE Appliances is a leading innovator in its industry, and has been introducing new products that enhance consumer lifestyles for almost a century. It is recognized for its world-class products like GE Monogram(R), GE Cafe(R) and a wide range of Energy Star certified appliances.
GE Lighting invented the world’s first incandescent light bulb in 1879 and continues to be at the leading edge of lighting innovation with the Reveal(R), Edison and Energy Smart(R) consumer brands.
GE’s Industrial technologies have harnessed power and delivered critical services safely and efficiently around the world since 1892.
GE announces intent to
seek strategic options for its appliances business
Options May Include Strategic Partnership, Spin Off or Sale
GE today announced that it was reviewing strategic options for its Appliances business. The Company is currently considering three possibilities for the unit: a strategic partnership or joint venture; spin off; or the sale of the business.
“This review is consistent with the strategy we have been executing to transform our portfolio for long-term growth, “ GE Chairman and CEO Jeff Immelt said. “Since 2003 we have exited slower growth and more volatile businesses, generating $52 billion in gross proceeds from dispositions. These proceeds have been reinvested into a transformed portfolio of faster growth, higher margin businesses, stock buybacks and other restructuring activities.
“GE Appliances has a very strong brand, great distribution, a talented leadership team and for more than 100 years, has been one of the icons associated with GE in the United States,” Immelt said. “However, it remains primarily a U.S. business, meaning its fortunes are tied to the rise and fall of a single market. We want to make this good business great again by finding the right strategic solution ? a solution that will give Appliances the global reach and investment required to compete more effectively,” Immelt said.
“Jim Campbell and the Appliances leadership team have done a great job running the business and I am pleased that they have agreed to remain at the business,” Immelt said. “Their leadership has been critical in creating world-class products like GE Monogram(R), GE Cafe(R) and a wide range of Energy Star certified appliances.”
GE Appliances is part of GE Industrial’s Consumer & Industrial division, which also includes the lighting and electrical distribution businesses. Those units will remain part of GE’s industrial platform. Both businesses are global and fit well with GE’s environmental initiative, ecomagination.
GE Appliances is a $7.2 billion business and employs about 13,000 people worldwide. It is headquartered in Louisville, KY.