GE Industrial Updates Distributors on Division’s Future and 2017 Investment Plans

One of the big events at this week’s NAED South Central Conference in Tampa was GE Industrial’s breakfast meeting with distributors, where Gary Arnott, general manager, and other company leaders updated the audience on the company’s investment in new products and sales tools while its parents are positioning this legacy division of GE for divestiture by year-end 2017.  Jeff Immelt, GE’s CEO, announced plans to sell GE Industrial during an investor presentation in December 2016 (see EM – Dec. 16).

During the morning meeting Arnott said his division is looking at solid business prospects for 2017 and growth in the 7% to 9% range.  His comments at the meeting focused on several recent product launches, including a new line switchgear, the GuardEon circuit breaker, EntellEon panelboard and the GE PanelScan panelboard configuration tool now in beta testing.  “We wanted to stress that investments continue at pre-announcement pace,” said Arnott

As reported in EM’s Dec. 16 article, GE Chairman Jeffrey Immelt announced at an investment analysts’ meeting that the company would add its Industrial Solutions business to the operations slated for divestiture as part of a move to improve profitability and raise cash for mergers, acquisitions and buybacks.