Trains.com
You have 7 views remaining.

Home / News & Reviews / News Wire / GE seeks to sell locomotive-building business NEWSWIRE

GE seeks to sell locomotive-building business NEWSWIRE

By | November 13, 2017

Get a weekly roundup of the industry news you need.

Email Newsletter

Get the newest photos, videos, stories and more.

TEH132556
CHICAGO – General Electric announced plans on Monday to focus on three core industries – aviation, power, and healthcare – leading to the sale of its GE Transportation division and its locomotive product line within two years, the Chicago Tribune reports.

“Today, GE announced that it will divest the Transportation business from its portfolio. The Company is in the early stages of this process and exploring a multitude of possibilities that may include, among several options, creative approaches used to transition GE’s Consumer Finance business into Synchrony Financial or models like the Baker Hughes and GE Oil & Gas merger,” spokesman Tim Bader tells Trains News Wire. “This move is in line with GE’s broader efforts to divest $20 billion in assets over the next few years. The Transportation business remains committed to building on its strong culture of innovation, deep domain, world-class technology and digital solutions in a way that best positions the business for growth.”

In July 2017, GE announced that it would shift all locomotive production to Fort Worth, Texas, by the end of 2018, ending production at its famed Erie, Pa., works.

In October 2017, GE named Rafael Santana, one-time president and CEO of GE Latin America, as president and CEO of Chicago-based GE Transportation, effective Nov. 1.

TEH132556
New GE locomotives take shape in the high-bay portion of the Fort Worth, Texas, plant in May 2013.
Chris Guss

20 thoughts on “GE seeks to sell locomotive-building business NEWSWIRE

  1. And then the US had none… well, of the two biggest players, at least. Maybe some of the smaller US players will fill the void. Meanwhile, the Europeans and Asians are doing the heavy lifting for us & the rest of the world.

  2. What is maddening that other foreign country’s have come and taken over supplying the shrinking U.S. rail industry particularly in passenger car manufacturing. Our transportation policies have lead to this situation. The U.S. has not invested in rail other than crumbs to Amtrak and some other projects. The expertise of Budd and Pullman are long gone. Is the locomotive industry far behind. One had to assume that GE was going to sell the locomotive division eventually.

  3. I’m sorry to read that G.E. plus to leave the locomotive business, which it’s been in since 1903. Consulting William D. Middleton’s biography of Frank Julian Sprague, I found that G.E. and the American Locomotive Company collaborated on the building of the first locomotives for the New York Central’s electrification of its main line between Croton-on-Hudson and Grand Central in New York City, with delivery of the first locomotives in 1904.

  4. My guess is that it will be sold to an overseas company, most likely Chinese but could be Indian or Brazilian, and all jobs in US eliminated other than the few needed to satisfy local content requirements.

  5. Is that what we need here is another American company sold to foreign company?I sure hope not.Why has the justice department allowed all these foreign companies to come in & buy up American businesses?Maybe Caterpillar can buy this entity while selling off Progress Rail.

  6. This was also reported in the Wall Street Journal about two weeks ago.

    GE Transportation (locomotive manufacturing) is only about $4B of the total $120B+ in annual revenue for General Electric. And locomotive orders have been down in the past few years, so not exactly a growth business line for GE. Maybe the locomotive plant GE is building in India for the 1,000+ locomotive order in that country will become GE’s only locomotive manufacturing plant (with the Ft. Worth plant eventually closing?).

    Too bad to see GE to want to sell off their locomotive business. But perhaps a “sign of the times” in the ongoing deindustrialization of the United States?

  7. Does anyone else notice how so many of the posts given are just negative rants based on nothing but the ranter’s speculation or drama story. Not just in this article, but in ALL articles. Is your outlook really that bad?

You must login to submit a comment