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GE Aerospace becomes independent public company

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NewsDrum Desk
New Update

New Delhi, Apr 2 (PTI) GE Aerospace has become an independent public company, marking the completion of the multi-year transformation of conglomerate GE.

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The company will trade on the New York Stock Exchange under the ticker 'GE' from Tuesday.

The launch of GE Aerospace as an independent public company comes after spinning off GE Vernova and marks the successful completion of GE's multi-year transformation, according to a release.

In India, GE Aerospace has been operating since 1982. More than 700 engines manufactured by the company as well as its partner are being used in aircraft of Indian carriers.

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Besides, the company's military engines are part of LCA Mark 1 and Mark II programmes.

In June last year, GE Aerospace announced a plan to locally co-produce with Hindustan Aeronautics the F414 engine for the LCA programme.

The company has an engineering centre in Bengaluru and a factory in Pune.

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"With the successful launch of three independent, public companies now complete – today marks a historic final step in the multi-year transformation of GE...

"GE Aerospace moves forward with a strong balance sheet and greater focus to invent the future of flight, lift people up, and bring them home safely," GE Aerospace Chairman and CEO H Lawrence Culp Jr said.

Now, GE has three independent, public companies -- GE Aerospace, GE Vernova and GE Healthcare Technologies. PTI RAM BAL BAL

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