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General Electric: Difference between revisions
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In April 2013, GE acquired oilfield pump maker [[Lufkin Industries]] for $2.98 billion.<ref>{{cite news | url=https://www.reuters.com/article/us-ge-lufkin-idUSBRE9370AL20130408 | title=GE to buy oil pump maker Lufkin for nearly $3 billion | author=Ernest Scheyder | work=Reuters | date=April 8, 2013 | access-date=July 1, 2017 | archive-url=https://web.archive.org/web/20151127064441/http://www.reuters.com/article/2013/04/08/us-ge-lufkin-idUSBRE9370AL20130408 | archive-date=November 27, 2015 | url-status=live }}</ref> | In April 2013, GE acquired oilfield pump maker [[Lufkin Industries]] for $2.98 billion.<ref>{{cite news | url=https://www.reuters.com/article/us-ge-lufkin-idUSBRE9370AL20130408 | title=GE to buy oil pump maker Lufkin for nearly $3 billion | author=Ernest Scheyder | work=Reuters | date=April 8, 2013 | access-date=July 1, 2017 | archive-url=https://web.archive.org/web/20151127064441/http://www.reuters.com/article/2013/04/08/us-ge-lufkin-idUSBRE9370AL20130408 | archive-date=November 27, 2015 | url-status=live }}</ref> | ||
In April 2014, it was announced that GE was in talks to acquire the global power division of French engineering group [[Alstom]] for a figure of around $13 billion.<ref>{{cite news| title=GE in talks to buy Alstom's power arm| author=Natalie Huet| work=Reuters| url=https://www.reuters.com/article/us-alstom-offer-general-electric-idUSBREA3O14I20140425| date=April 24, 2014| access-date=July 1, 2017| archive-url=https://web.archive.org/web/20150924200115/http://www.reuters.com/article/2014/04/25/us-alstom-offer-general-electric-idUSBREA3O14I20140425| archive-date=September 24, 2015| url-status=live}}</ref> A rival joint bid was submitted in June 2014 by [[Siemens]] and [[Mitsubishi Heavy Industries]] (MHI) with Siemens seeking to acquire Alstom's gas turbine business for €3.9 billion, and MHI proposing a joint venture in steam turbines, plus a €3.1 billion cash investment. In June 2014, a formal offer from GE worth $17 billion was agreed by the Alstom board. Part of the transaction involved the French government taking a 20% stake in Alstom to help secure France's energy and transport interests and French jobs. A rival offer from Siemens Mitsubishi Heavy Industries was rejected. The acquisition was expected to be completed in 2015.<ref name="AlstonGE">{{cite news|title=Alstom board votes for {{sic|nolink=y|aquis|ition|expected=acquisition}} by GE|url=http://www.francenews.net/index.php/sid/223128443/scat/3a8a80d6f705f8cc/ht/Alstom-board-votes-for-aquisition-by-GE|access-date=June 23, 2014|publisher=France News.Net|archive-url=https://web.archive.org/web/20140709235422/http://www.francenews.net/index.php/sid/223128443/scat/3a8a80d6f705f8cc/ht/Alstom-board-votes-for-aquisition-by-GE|archive-date=July 9, 2014|url-status=dead}}</ref> In October 2014, GE announced it was considering the sale of its [[Poland|Polish]] banking business [[Bank BPH]].<ref>[https://www.reuters.com/article/us-banking-bank-bph-general-electric-div-idUSKCN0I41YO20141015 GE considers sale of Polish unit Bank BPH] {{Webarchive|url=https://web.archive.org/web/20150924205405/http://www.reuters.com/article/2014/10/15/us-banking-bank-bph-general-electric-div-idUSKCN0I41YO20141015 |date=September 24, 2015 }}. | In April 2014, it was announced that GE was in talks to acquire the global power division of French engineering group [[Alstom]] for a figure of around $13 billion.<ref>{{cite news| title=GE in talks to buy Alstom's power arm| author=Natalie Huet| work=Reuters| url=https://www.reuters.com/article/us-alstom-offer-general-electric-idUSBREA3O14I20140425| date=April 24, 2014| access-date=July 1, 2017| archive-url=https://web.archive.org/web/20150924200115/http://www.reuters.com/article/2014/04/25/us-alstom-offer-general-electric-idUSBREA3O14I20140425| archive-date=September 24, 2015| url-status=live}}</ref> A rival joint bid was submitted in June 2014 by [[Siemens]] and [[Mitsubishi Heavy Industries]] (MHI) with Siemens seeking to acquire Alstom's gas turbine business for €3.9 billion, and MHI proposing a joint venture in steam turbines, plus a €3.1 billion cash investment. In June 2014, a formal offer from GE worth $17 billion was agreed by the Alstom board. Part of the transaction involved the French government taking a 20% stake in Alstom to help secure France's energy and transport interests and French jobs. A rival offer from Siemens Mitsubishi Heavy Industries was rejected. The acquisition was expected to be completed in 2015.<ref name="AlstonGE">{{cite news|title=Alstom board votes for {{sic|nolink=y|aquis|ition|expected=acquisition}} by GE|url=http://www.francenews.net/index.php/sid/223128443/scat/3a8a80d6f705f8cc/ht/Alstom-board-votes-for-aquisition-by-GE|access-date=June 23, 2014|publisher=France News.Net|archive-url=https://web.archive.org/web/20140709235422/http://www.francenews.net/index.php/sid/223128443/scat/3a8a80d6f705f8cc/ht/Alstom-board-votes-for-aquisition-by-GE|archive-date=July 9, 2014|url-status=dead}}</ref> In October 2014, GE announced it was considering the sale of its [[Poland|Polish]] banking business [[Bank BPH]].<ref>[https://www.reuters.com/article/us-banking-bank-bph-general-electric-div-idUSKCN0I41YO20141015 GE considers sale of Polish unit Bank BPH] {{Webarchive|url=https://web.archive.org/web/20150924205405/http://www.reuters.com/article/2014/10/15/us-banking-bank-bph-general-electric-div-idUSKCN0I41YO20141015 |date=September 24, 2015 }}. Reuters, October 15, 2014</ref> | ||
Later in 2014, General Electric announced plans to open its global operations center in [[Cincinnati]], Ohio.<ref>{{Cite web|url=https://www.daytondailynews.com/business/center-000-jobs-slated-for-downtown-cincinnati/BsQeLOkmUme7WiFJiSkKTL/|title=GE center, 2,000 jobs slated for downtown Cincinnati|date=April 10, 2014|website=Dayton Daily News|access-date=August 13, 2018|archive-url=https://web.archive.org/web/20180814103611/https://www.daytondailynews.com/business/center-000-jobs-slated-for-downtown-cincinnati/BsQeLOkmUme7WiFJiSkKTL/|archive-date=August 14, 2018|url-status=live}}</ref> The Global Operations Center opened in October 2016 as home to GE's multifunctional shared services organization. It supports the company's finance/accounting, human resources, information technology, supply chain, legal and commercial operations, and is one of GE's four multifunctional shared services centers worldwide in [[Pudong]], China; [[Budapest]], Hungary; and [[Monterrey]], Mexico.<ref>{{Cite web|url=https://www.wcpo.com/news/insider/ge-jobs-downtown-the-new-global-operations-center-which-has-already-hired-1400-looks-to-hire-400-more_|title=Having already hired 1,400, GE's new operations center Downtown looks to hire 400 more|date=July 19, 2017|website=WCPO Cincinnati|access-date=August 13, 2018|archive-url=https://web.archive.org/web/20180814103445/https://www.wcpo.com/news/insider/ge-jobs-downtown-the-new-global-operations-center-which-has-already-hired-1400-looks-to-hire-400-more_|archive-date=August 14, 2018|url-status=live}}</ref> | Later in 2014, General Electric announced plans to open its global operations center in [[Cincinnati]], Ohio.<ref>{{Cite web|url=https://www.daytondailynews.com/business/center-000-jobs-slated-for-downtown-cincinnati/BsQeLOkmUme7WiFJiSkKTL/|title=GE center, 2,000 jobs slated for downtown Cincinnati|date=April 10, 2014|website=Dayton Daily News|access-date=August 13, 2018|archive-url=https://web.archive.org/web/20180814103611/https://www.daytondailynews.com/business/center-000-jobs-slated-for-downtown-cincinnati/BsQeLOkmUme7WiFJiSkKTL/|archive-date=August 14, 2018|url-status=live}}</ref> The Global Operations Center opened in October 2016 as home to GE's multifunctional shared services organization. It supports the company's finance/accounting, human resources, information technology, supply chain, legal and commercial operations, and is one of GE's four multifunctional shared services centers worldwide in [[Pudong]], China; [[Budapest]], Hungary; and [[Monterrey]], Mexico.<ref>{{Cite web|url=https://www.wcpo.com/news/insider/ge-jobs-downtown-the-new-global-operations-center-which-has-already-hired-1400-looks-to-hire-400-more_|title=Having already hired 1,400, GE's new operations center Downtown looks to hire 400 more|date=July 19, 2017|website=WCPO Cincinnati|access-date=August 13, 2018|archive-url=https://web.archive.org/web/20180814103445/https://www.wcpo.com/news/insider/ge-jobs-downtown-the-new-global-operations-center-which-has-already-hired-1400-looks-to-hire-400-more_|archive-date=August 14, 2018|url-status=live}}</ref> | ||