GE Mulls Options for Locomotives Including a Sale, WSJ Says
(Bloomberg) -- General Electric Co. is studying an exit from its locomotive business, one of the 125-year-old company’s oldest operations, the Wall Street Journal reported.
The Boston-based company is studying options such as bringing in a partner, spinning the division off or selling it, the newspaper reported, citing people familiar with the matter. GE is also considering the divestiture of its health-care information technology business, Reuters reported.
GE’s new chief executive officer, John Flannery, pledged to unload $20 billion in assets last week as he seeks to streamline the portfolio. GE has tumbled more than 30 percent this year, the biggest decline on the Dow Jones Industrial Average.
The locomotive-manufacturing unit, known as GE Transportation, is led by Jamie Miller, who is set to take over as the parent company’s chief financial officer next month.
GE declined to comment. The shares fell less than 1 percent to $21.44 at 12:05 p.m. in New York.
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