Weigh! GE announces sale of Current to US private Holdings Company AIP

According to foreign media reports, yesterday (6), GE (Ge Corp) announced the signing of the draft agreement, the sale of its Current to the United States private Holdings Company American Industrial Partners (AIP).

AIP is a company focused on purchasing, improving and developing industrial businesses. The proposed transaction is expected to be completed in early 2019, subject to customary transaction conditions, regulatory approvals and advisory procedures that meet local legal requirements. Financial details have not yet been disclosed.

Current is a leading provider of efficient and digital productivity solutions for business offices, retail stores, industrial facilities and cities. Its business technology portfolio includes LED and traditional lighting solutions, as well as various connection sensors, controls and software. As part of the proposed sale, Current will continue to use the GE brand in accordance with the licensing agreement.

Current president and chief executive officer Maryrose Sylvester said, "AIP will be a good family for the development of Current. AIP's deep professional knowledge in operation and engineering, coupled with its very successful investment in industrial enterprises, will help us speed up the growth of Current "." we look forward to working with AIP team to further establish Current as a leader in the field of IOT lighting. "

AIP partner Eric Baroyan said, "GE's innovative history, quality, reliability and profound expertise are the ideal choice for our investment strategy". "We look forward to retaining this tradition, supporting the key growth plan of Current management team, establishing Current's wide product mix and leading digital solutions. Through advanced intelligent ecosystem platform, we can help customers save energy and better understand the environment. We are very pleased to work with Maryrose Sylvester and its leadership team to invest in Current's well-known industry engineering, manufacturing, digital and supply chain capabilities to seize the major opportunities of energy efficiency and digitalization in front of us.

GE lighting North American consumer lighting business is not included in the proposed transaction, GE is still actively selling this business. (compile: LED net James)

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