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GE shopping around its electrical division; moves transformer plant

Mar 12, 2003 12:00 PM

Looking to dump $5 billion to $10 billion in assets in 2003, GE is courting buyers of its motor manufacturing and lighting divisions. The company spent more than $9 billion in 2002 on industrial acquisitions.

According to a recent article in Barron’s, the investment weekly newspaper from Dow Jones, GE Capital has a 7-to-1 debt-to-equity ratio. However, the company’s debt has AAA ratings from the Standard & Poor’s and Moody’s.

In other GE news, the company recently announced it will move part of its electrical transformer and manufacturing operation from Shreveport, La., to Monterrey, Mexico. About half of the plant’s jobs will be eliminated in the transition.

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