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RIYADH: General Electric has unveiled the names of its three new future business units, as it splits the industrial group into three separate public companies, according to a statement.
The first company, which will be GE’s healthcare unit has been named GE Healthcare, and it will plan for a Nasdaq Global Select Market listing under the ticker symbol GEHC in early 2023.
GE’s existing energy portfolio of businesses, including renewable energy, power, digital, and energy financial services, will sit together under the brand name GE Vernova.
The aviation business unit has been named GE Aerospace, according to the statement.
“All three planned companies will continue to benefit from GE’s heritage and global brand valued at nearly $20 billion,” the company said.
According to the statement, GE will ultimately emerge as an aerospace company with an installed base of 39,400 commercial and 26,200 military aircraft engines.
“Leveraging GE’s multi-billion-dollar global brand gives us a competitive advantage in our end markets, allowing these businesses to win in the future,” said H. Lawrence Culp, Jr., chairman and CEO of GE, and CEO of GE Aerospace.