GE business restructuring into the final stage, the US lighting business or the sale of Chinese Enterprises

According to the Japanese economic news report in July 23rd, the restructuring of GE's business has entered the final stage. Local time, July 20th, announced that it will withdraw from the ancestral lighting business in 2018. In 7 major services such as medical equipment and transportation, 4 will be split and sold, and the business is concentrated in 3 sectors of power, aviation and renewable energy. General Electric will say goodbye to the past integrated business model as "Simple GE".

General Electric chief financial officer (CFO) Jamie Miller announced "the sale of lighting business in the year of the year" at the July 20th 2018 4~6 month financial conference call conference. The company's lighting business has previously withdrawn from Europe, the Middle East and Africa, and will soon sign sales contracts for the US lighting business.

General Electric chief financial officer Jamie Miller (photo source: Nikkei Chinese network)

Jamie Miller did not disclose the sales target, but the US media speculated that it might be sold to Chinese companies. The company's annual sales of electrical lighting are $more than 100 million, with little contribution to earnings, but for GM, it is a special business related to the invention of King Edison. General Electric has always attached importance to the business as much as its core power and aviation services.

General Electric plans to sell and restructure a series of businesses before 2020 to compress $25 billion in interest - bearing liabilities. In the context of the Fed's increase in interest rates, the interest burden of the company has been reduced, but the business level is still facing a number of topics.

Source: Nikkei Chinese network

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