Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries GE plans to invest over $450 million to upgrade US manufacturing in 2023 By: FOX Business March 02, 2023 at 16:31 PM EST General Electric will invest $450 million in manufacturing. It will allocate $335 million of that to aerospace and $117 million to healthcare ahead of a planned divesture. General Electric said on Thursday it plans to invest more than $450 million in its existing manufacturing facilities in the United States this year and hire more than 1,700 employees, in a bid to bolster its aerospace and energy businesses.The move comes as the Boston-based conglomerate is wrestling with inflationary and supply-chain pressures, and is adjusting its prices to offset higher costs.The company, which operates 58 facilities in the U.S., said it will invest in cutting-edge equipment, facility upgrades, other improvements. The improvements are being made as GE is looking for ways to improve costs and inventory, it added.FORMER GE EMPLOYEE SENTENCED FOR CONSPIRING TO STEAL TRADE SECRETS FOR CHINAThe upgrade come ahead of the company's planned creation of two independent companies in energy and aerospace.GE, which completed the spin-off of its healthcare unit in January, has plans to spin off its energy businesses, including renewables, into a separate company next year.NEW ROLLS-ROYCE CEO EMBARKS ON STRATEGIC REVIEW OF JET-ENGINE MAKERGE Aerospace expects to invest more than $335 million across its U.S. facilities, while the energy unit, GE Vernova, anticipates investing upwards of $117 million. Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
GE plans to invest over $450 million to upgrade US manufacturing in 2023 By: FOX Business March 02, 2023 at 16:31 PM EST General Electric will invest $450 million in manufacturing. It will allocate $335 million of that to aerospace and $117 million to healthcare ahead of a planned divesture. General Electric said on Thursday it plans to invest more than $450 million in its existing manufacturing facilities in the United States this year and hire more than 1,700 employees, in a bid to bolster its aerospace and energy businesses.The move comes as the Boston-based conglomerate is wrestling with inflationary and supply-chain pressures, and is adjusting its prices to offset higher costs.The company, which operates 58 facilities in the U.S., said it will invest in cutting-edge equipment, facility upgrades, other improvements. The improvements are being made as GE is looking for ways to improve costs and inventory, it added.FORMER GE EMPLOYEE SENTENCED FOR CONSPIRING TO STEAL TRADE SECRETS FOR CHINAThe upgrade come ahead of the company's planned creation of two independent companies in energy and aerospace.GE, which completed the spin-off of its healthcare unit in January, has plans to spin off its energy businesses, including renewables, into a separate company next year.NEW ROLLS-ROYCE CEO EMBARKS ON STRATEGIC REVIEW OF JET-ENGINE MAKERGE Aerospace expects to invest more than $335 million across its U.S. facilities, while the energy unit, GE Vernova, anticipates investing upwards of $117 million.