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GE splits and brand will focus only on aviation

General Electric (GE), one of the largest industrial conglomerates in the world, will split into three independent publicly traded companies. The announcement was made on 11/09, just days after the group completed the sale of GE Capital Aviation Service (Gecas), an aircraft leasing division, to Irish company AerCap. The brand itself will be focused exclusively on aviation. Today, GE Aviation manufactures turbo-prop and turbofan engines in the United States, and has a stake in CFM International, together with Safran. John Slattery, current leader in the field, will continue as CEO of the new company. The conglomerate will spend USD 2.5 MM (BRL 13.7 MM) on the transition, which will be completed in early 2024. “By creating three industry-leading global public companies, each can benefit from greater focus, bespoke capital allocation, and strategic flexibility to drive long-term growth, and value for customers, investors, and employees”, according to Group CEO H. Lawrence Culp Jr. – https://aeromagazine.uol.com.br/artigo/ge-se-divide-e-marca-focara-somente-na-aviacao_7315.html