On Friday, Shares of General Electric Company (NYSE:GE), gained 1.01% to $29.94.
According to news report, Further solidifying its commitment to expanding and enhancing its electrical distribution equipment capabilities and offerings, GE’s Industrial Solutions business (GE) declared it is investing $7.4 million in its West Burlington, Iowa, manufacturing facility and creating 120 new jobs. The investment will be used to expand GE’s medium-voltage product development and production in North America. The declaration was made recently at an on-site ceremony for GE employees and state and local government officials.
“This year, we have focused our efforts and investments on revitalizing our medium-voltage portfolio and establishing reliable, efficient solutions to assist our customers better protect and control electrical equipment in their commercial, industrial and utility applications,” said Stephanie Mains, CEO of GE’s Industrial Solutions business. “This latest investment in our West Burlington facility enables us to enhance our manufacturing center of excellence and to better serve our global customers.”
“Iowa is proud to welcome GE’s expansion and investment in West Burlington,” said Iowa Governor Terry Branstad. “The creation of 120 new jobs and the investment of over $7 million are testaments to the customer demand for the products you make. We are honored to have you in Iowa.”
This investment comes on the heels of a $1.3 million investment that GE made in its West Burlington facility last year to upgrade its manufacturing capabilities. Recently’s declared investment enables GE to add new production machines, test equipment and work stations for its employees — all of which will assist create a leaner, more efficient manufacturing process. With these new features and equipment, the West Burlington facility will evolve to more than just a manufacturing location; it will become a place where customers can interact with GE’s dedicated team of professionals and where they can experience, first hand, factory acceptance testing.
GE (GE) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the GE Store, through which each business shares and accesses the same technology, markets, structure and intellect.
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