GE to sell $3 billion industrial solutions business

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(Copyright Reuters 2016)

General Electric Co said on Wednesday it would sell its $3 billion industrial solutions business, which makes electrical equipment, as part of a push to focus on its core businesses.

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The industrial conglomerate expects to raise about $4 billion from the sale of the unit as well as the previously announced sale of its water business, GE said in an investor presentation. (http://invent.ge/2gJLoWW)

The industrial solutions business has about 13,000 employees and 30 plants globally.

(Reporting by Anya George Tharakan in Bengaluru; Editing by Savio D'Souza)