General Electric Company (NYSE: GE) was founded in 1892 and is headquartered in Fairfield, Connecticut, USA. It has 205,000 full-time employees and is the world’s largest multinational company providing technology and services.
General Electric Company (GE):
In 1896, the Dow Jones Industrial Index was established. General Electric was one of the 12 companies on the list. To this day, it is the only company still on the index. ( Update : June 19, 2018, GE was T launched the Dow Jones Industrial Average, and it will be replaced by Walgreens Boots Alliance Inc. ) .
GE is a relatively outstanding multinational company in the diversification of the company. At present, the company has operations in more than 100 countries in the world and has nearly 300,000 full-time employees. With a turnover of 146.2 billion U.S. dollars in 2014, GE is the 9th largest company in the United States and the 27th largest in the world.
General Electric Company (GE) is the world’s largest diversified service company. From aircraft engines and power generation equipment, from medical imaging, TV programs to plastics, GE is committed to creating a better life through multiple technologies and services. The history of General Electric can be traced back to Thomas Edison, who founded the Edison Electric Light Company in 1878.
In 1892, Edison Electric Company and Thomson-Houston Electric Company merged to form General Electric Company (GE).
In recent years, General Electric’s rhythm has always been to sell, including finance, industry, energy, healthcare, and even the recent transportation business. With the rhythm, the stock price has fallen again and again. Whether this century-old giant lost peace of mind or found its way, we can only wait and see, let time and the market give the answer.
General Electric is divided into 8 divisions to operate (2017):
- Power -provide gas and steam power systems; maintenance, service and upgrade solutions; distributed power gas engines; water treatment, wastewater treatment and process system solutions; nuclear reactors, fuel and support services.
- Renewable Energy -provides wind turbine platforms, hardware and software; onshore and offshore wind turbines; and solutions, products and services for the hydropower industry.
- Oil & Gas ——Provide shallow and deep sea drilling and production systems, as well as floating production platform equipment; and compressors, turbines, turboexpanders, reactors, industrial power generation and auxiliary equipment.
- Aviation ——Design and produce commercial and military aircraft engines, integrate digital components and electrical and mechanical aircraft systems; and provide after-sales service.
- Healthcare -provides diagnostic imaging and clinical systems; products for drug development, biopharmaceutical manufacturing and cellular technology; and medical technology, software, analysis, cloud solutions and implementation services.
- Transportation ——Provide railway freight and passenger locomotives, as well as railway and support consulting services; software solutions, mining equipment and services, marine diesel engines and stationary power diesel engines and engines, as well as overhaul, repair and upgrade, and wreck repair services.
- Energy Connections & Lighting ——Provide industry, power grid, power conversion, automation and control, lighting and current solutions.
- Capital -provides industrial and energy financial services; commercial aircraft leasing, financing and consulting services.
General Electric’s electrical product technology is relatively mature, with a wide variety of products. In addition to producing consumer electronics and industrial electrical equipment, it is also a huge arms contractor, manufacturing aerospace instruments, jet aircraft piloting and navigation systems, multi-warhead ballistic missile systems, radars, and space flight systems. The world-famous Atlas rockets and Thor rockets that can carry atomic bombs and hydrogen warheads are produced by this company.
General Electric Company (GE) companies:
GE Capital, GE Aviation Financial Services, GE Commercial Finance, GE Energy Financial Services, GE Finance, GE Funds, GE Technical Facilities, GE Aviation, GE Enterprise Solutions, GE Healthcare, GE Transportation, GE Energy Facilities, GE Water Treatment, GE Oil & Gas, GE Energy, GE Consumer and Industry, GE Equipment, GE Lighting, GE Power Distribution
General Electric Company (GE) History:
- In 1892, Edison General Electric Company of New York State and Thomson-Houston Electric Company of Massachusetts merged to form General Electric Company. The two factories are still in operation today;
- In 1911, the National Electric Company merged into General Electric. GE then started a lighting business in Nella Park, East Cleveland, Ohio;
- In 1919, GE and AT&T jointly established the American Radio Corporation;
- GE was once the eighth largest computer manufacturing company in the world, and in the 1950s it was the largest computer manufacturer outside the United States;
- GE has built a new plant to produce missiles since 1956 and provided nuclear weapons to foreign countries;
- In 1970, GE sold its computer business to Honeywell ;
- In 1986, GE acquired American Radio Corporation, mainly used to serve NBC’s TV network;
- In 1999, Alstom sold its heavy-duty gas turbine business to General Electric;
- In 2004, GE acquired Vivendi and merged with NBC to form NBC Universal;
- On August 25, 2011, General Electric opened Global Growth & Operations Headquarters in Hong Kong, responsible for the development of global business outside the United States;
- On February 14, 2013, Comcast , the largest U.S. cable television company, announced that it would purchase the remaining 49% of NBC Universal (NBCU) from General Electric (GE) for US$16.7 billion;
- May 1, 2014, GE invested 12.4 billion euros ($ 17 billion) in cash to acquire Alstom (Alstom SA) ‘s global power business;
- On July 21, 2014, General Electric spin-off North American consumer finance company Synchrony Financial ( NYSE : SYF ) and listed on the New York Stock Exchange. This IPO will issue 125 million shares at a price of US$23 to US$26 per share. , Raised up to US$3.25 billion, with a valuation ranging from US$17 billion to US$21 billion;
- On October 14, 2014, General Electric’s financial subsidiary General Finance will spend US$1.775 billion to acquire the helicopter leasing company Milestone Aviation Group Ltd.,
- March 16, 2015, Kohlberg – Kravis – Roberts (Kohlberg Kravis Roberts & Co., usually referred to as a $ 6.3 billion acquisition of GE Capital Australia and New Zealand’s fees and loan business to KKR consortium of Deutsche Bank.
- On April 10, 2015, Blackstone Group and Wells Fargo Bank will jointly buy most of the assets of GE Capital Real Estate, the property division of GE, for a total value of approximately US$23 billion. The other US$4 billion of commercial properties will be sold to other buyers;
- On June 28, 2015, General Electric sold the fleet business in the United States, Mexico, Australia and New Zealand for US$6.9 billion;
- On June 30, 2015, GE sold its European private equity financing business for US$2.2 billion;
- On August 14, 2015, General Electric agreed to sell General Capital Bank’s online deposit platform and approximately $16 billion in deposits deposited on the platform to Goldman Sachs ;
- On August 17, 2015, General Electric planned to bid for the French Alstom power unit at a price of 12.4 billion euros, which is expected to be approved by the European Union. This is the largest acquisition in the history of General Electric;
- On December 7, 2015, due to opposition from the US Department of Justice, General Electric terminated the sale of its home appliance business to Electrolux;
- On January 7, 2016, General Electric said it was gradually divesting its financial assets. In 2015, General Electric divested its General Electric Financial Services Company, which was valued at US$157 billion . In the first quarter of this year, General Electric will submit an application to revoke its title of global systemic important financial institution.
- On January 16, 2016, Qingdao Haier (600690) announced the acquisition of General Electric’s home appliance business related assets for USD 5.4 billion in cash. This acquisition includes the 48.4% equity interest in Mabe, a home appliance company located in Mexico, held by General Electric Appliances. It was completed on June 15, 2016, and the final purchase price was US$5.58 billion;
- On September 6, 2016, General Electric spent a total of US$1.4 billion to acquire two European 3D printing groups, Arcam of Sweden and SLM Solutions of Germany.
- On November 10, 2016, General Electric merged its oil and gas business with Baker Hughes . The new company will be named BHGE Baker Hughes. It has two headquarters in Houston and London at the same time. It will start on July 5, 2017. Trading on the New York Stock Exchange, Zhuoyong Electric will hold a 62.5% stake in the new company, and Baker Hughes will hold a 37.5% stake;
- On March 10, 2017, a 70:30 joint venture with the Canadian Quebec savings and investment group Caisse de dépôt et placement du Québec was established to acquire GE Water & Process, a subsidiary of General Electric, for 3.2 billion euros in cash. Technologies) 100% equity;
- In September 2017, GE announced the sale of its industrial solutions business to ABB Ltd. , and the transaction is expected to be completed in the first half of 2018;
- On May 20, 2018, General Electric recently merged the transportation department with Wabtec , and the combined company’s valuation may be approximately US$20 billion;
- On June 24, 2018, it was reported that General Electric was selling its industrial engine business to private equity firm Advent International.
General Electric Company (GE) investment:
General Electric is currently the world’s largest and most successful diversified company, involved in dozens of industries such as military, industrial, energy, finance, medical, and services, and most of the departments can achieve profitability, which shows that the company’s management team is strong and management The foresight of the reader.
However, starting in 2013, the company gradually began to sell, including financial business, insurance business, media business, high-tech materials business, etc., this year also sold water treatment and industrial solutions business. It can be seen from the stock price trend that the market does not approve of GE’s approach. In today’s bull market, GE’s stock price has been nearly cut in half.