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On May 21, 2018, GE and Wabtec confirmed the merger of GE Transportation with Wabtec in an $11 billion deal, completed on February 25, 2019, which saw Wabtec shareholders take a 50.8% shareholding in the merged company, with GE shareholders owning 24.3% and GE itself 24.9%.
GE Transportation is a division of Wabtec. It was known as GE Rail and owned by General Electric until sold to Wabtec on February 25, 2019. The organization manufactures equipment for the railroad, marine, mining, drilling and energy generation industries. The company was founded in 1907.
GE sells GE Transportation to Wabtec and terminates ownership of former said company after 112 years of ownership. 2021 GE announces split of company into three separate concerns— GE HealthCare , GE Vernova , and GE Aerospace —with the healthcare and energy (Vernova) divisions being spun off and the company pivoting to aviation by ...
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This was followed by the spin-off of GE's portfolio of energy businesses, which became GE Vernova on April 2, 2024. [148] [17] [149] Following these transactions, GE became an aviation-focused company; GE Aerospace is the legal successor of the original GE. [150] [151] [152] The company's legal name is still General Electric Company.
There's no foolproof way to know the future for Wabtec (NYS: WAB) or any other company. However, certain clues may help you see potential stumbles before they happen -- and before your stock ...