GE Splits Itself in Three as Conglomerate Era Fades
General Electric Co. is about to split itself into three smaller parts to create what it says will be three “industry-leading, public companies” with three focused end markets. GE said it will spin off its health care business in early 2023; combine its renewable energy, fossil-fuel power, and digital units into a single energy-focused company that will be spun off 2024; and retain its GE Aviation business.
For the plastics industry, SABIC has acquired GE plastics in 2007. GE sold off its massive appliance business to China-based Haier in 2016, although Haier uses the GE brand name.