GE May Get Out of Locomotive Business

The Wall Street Journal reported Thursday that General Electric is considering getting out of the business of building locomotives.

The newspaper cited unnamed sources as saying GE is considering a move to “partner, spin off, or possibly sell” GE Transportation.

GE has declined to comment on the report. Aside from building locomotives, GE Transportation also makes heavy-duty diesel engines and mining equipment.

Headquartered in Chicago, GE Transportation has locomotive assembly plants in Fort Worth, Texas; and Erie, Pennsylvania, the latter of which has been making locomotives and parts since 1911. GE also has an engine plant in Grove City, Pennsylvania.

The discussion about GE selling its transportation division comes amid disappointing third quarter earnings and a plan to cut $20 billion in businesses over the next two years.

Tags: , , ,

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: