As of my last update in September 2023, General Electric (GE) has undergone significant restructuring and divestitures over the past few years, shifting its focus to its core operations in key sectors. Historically, GE was a conglomerate with diverse interests in various sectors including aviation, healthcare, power, and renewable energy. However, the company has sold many of its business units to streamline its operations and concentrate on core growth areas.
Current Portfolio of GE
Air Transportation
GE Aviation remains a crucial part of GE's operations, focusing on jet engines and other aerospace technologies.Healthcare
GE Healthcare continues to operate under the GE brand, providing comprehensive solutions in medical imaging, monitoring, and diagnostics. This is one of GE's core businesses that have remained intact through restructuring.
Power
GE Power, which includes gas and steam turbines, has been a significant part of the company's portfolio but has faced operational challenges in recent years.Renewable Energy
GE Renewable Energy, encompassing wind and hydroelectric power, is a vital area of focus for the company. This segment has seen little disruption from the company's restructuring efforts.
Divestitures and Spin-offs
GE Capital
The financial services arm, GE Capital, has significantly reduced its footprint, aligning with the company's strategy to focus on core industrial activities.
GE Appliances
GE Appliances was sold to Haier in 2016, marking a significant departure from the company's consumer goods segment.
GE Transportation
GE Transportation was merged with Wabtec Corporation in 2019, consolidating the company's focus on rail and transportation systems.
Spin-offs and Future Plans
GE announced plans to spin off its healthcare division into a standalone company in 2018, followed by its energy business in 2020. These moves further narrowed GE's focus to its core aviation, healthcare, and renewable energy segments.
Consolidated Focus
By 2023, GE was primarily concentrating on its core operations in aviation, healthcare, and renewable energy. The company continues to streamline its operations, with ongoing plans to further consolidate these core areas.
If you are seeking the latest developments beyond this date, we recommend checking the latest news or the company's official announcements for any updates on their business structure or ownership.