Wednesday, May 14, 2008

ge to auction appliance business

General Electric plans to auction off it's appliance business.Ge has hired GOLDMAN SACHS GROUP INC,to run an auction for the appliance division.
The sale could yield between $5 billion and $8 billion the wall street journal reported.
Last year general electric took in $11.6 billion in the sale of it's plastic division.
GE started it's appliance business in 1907,revenue for the GE base Louisville ky industrial business which includes appliance manufacturing,was nearly $17.73 billion in 2007,down slightly from $17.74 billion in 2006.

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