GE officially announced the sale of lighting business!

by:ALLTOP      2020-03-16
Bill Lacey, CEO of GE Lighting, sent an internal email to GE Lighting employees last Thursday announcing the sale of GE Lighting. Rumors about the possible sale of lighting business began a few months ago and were confirmed last Thursday. On the morning of June 8, GE Lighting CEO Bill Lacey pointed out in an internal email that GE officially began to discuss the sale of GE Lighting business with potential buyers today. Bill Lacey stressed that the negotiations are still at an early stage and GE Lighting can consider several strategic options. Bill Lacey also said that during this period, GE Lighting must continue to operate this business to serve customers. Starting today, we will call our business team separately to have a transparent dialogue with our customers and to ensure that they understand our priorities and that the strategy remains the same. Bill Lacey said that in the future, the company will simplify its investment portfolio and focus on core digital industrial assets. The email also mentioned the home appliance business that GE previously sold. You will see the team thrive under the new ownership and share the same mission. In 2016, GE sold its household appliance business to Qingdao Haier, which is controlled by Haier Group. GE Lighting in Nela Park, East Cleveland on last August, GE Lighting announced the termination of its business activities in Asia. At that time, many people in the industry predicted that GE would completely divest its lighting business. The reason is based on: GE's lighting business including commercial lighting generated about 2. 2 billion US dollars in revenue in 2016, less than of the total revenue; The combined revenue from energy management and lighting also accounted for only 12%.
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