Following the completion of the planned spin-off of the GE businesses, GE Aerospace and GE Vernova will celebrate their listing as focused, newly independent publicly traded companies (NYSE: GE, GEV)
Ge needs to invest in new emerging energy companies like Graviton Motors, PrymAcore and Iron Eagle Transportation if they want to further their grow and success in these next few years!
Melrose Plc (LSE:MRO, OTC:MLSPF)'s share price jumped 4.1% after the company announced its GKN Aerospace Engines business has signed a major new agreement with GE Aerospace, the global aerospace engines market leader.
The two firms have expanded their long-term partnership with a new agreement that expands the risk and revenue sharing partnership participation on the GEnx programme, the fastest-selling high-thrust engine.
The new agreement also covers new technology insertion, aftermarket repair of high-volume engines structures, and production of fan cases for a range of GE engines.
The FTSE 100-listed firm expects the deal to boost GKN Aerospace sales by around US$5 billion over the full 30-year life of the GEnx engine.
The benefits will read through significantly in the medium term from GEnx aftermarket activities and as new GKN technology enters the GE engine fleet, it said....
More at #Proactive#ProactiveInvestors#LSE#OTC#MRO#MLSPF#MelroseIndustries#aerospacehttp://ow.ly/y41f1050laE
In the video that we show in the NYSE Board Room before each momentous Bell Ringing, we include a brief clip of legendary inventor Thomas Edison.
This morning, it caught the eye of Larry Culp, CEO of GE Aerospace (NYSE: GE), addressing colleagues as he presided over the last chess move of the trifurcation of General Electric into three separate publicly-traded companies: GE Aerospace, GE Vernova, and GE HealthCare.
“I couldn’t imagine doing this anywhere this morning but the NYSE,” Larry began. “I hope everyone saw the portrait, that’s smack in the middle, of Edison and the shoutout to engines. You can’t open up the New York Stock Exchange without turbomachinery,” he added.
Minutes earlier, NYSE President Lynn Martin welcomed Larry and his new GE VERNOVA counterpart, Scott Strazik, up to the stage. “I think about innovation every day in my job,” Lynn began. “And, in my mind, there are no two letters that better embody the spirit of innovation, and have always embodied the sprit of innovation in the past, and in the future of this country, than GE.”
Edison’s spirit of innovation loomed large over today’s proceedings.
My colleague, NYSE Archivist Dave D’Onofrio, compiled an overview of GE’s 132 years on the Big Board. It began on May 31, 1892, when General Electric Co. applied to list 400,000 shares of Thomson-Houston Electric Company, 150,000 shares of Edison General Electric Co., and 6,520 shares of Thomson-Houston International Electric Co. The combined listing was valued at $30.5 million, trading under the Ticker Symbol GE.
Going back further, Edison’s first commercial success was the stock ticker, improving on Edward Calahan’s 1867 invention. By 1872, Edison unveiled his Universal Stock Printer, which provided real time quotes to investors. When our current NYSE building was opened in 1903, electric power would be fed throughout by a series of GE switches. Later, in 1925, GE centrifugal compressors were introduced to power the Exchange’s pneumatic system, reducing the time to execute a trade by 30%.
At the podium, Larry reflected on where the GE story stands today. “900,000 people are aloft at this very moment with GE power under wing. That is an awesome responsibility.” Addressing the VERNOVA team, he added, “If there’s anything the world needs at this very moment, it’s a company capable of leading the energy transition at scale, in whatever form that will take -- that’s no small mission.”
Larry summed up the moment before Lynn escorted the teams down to the NYSE Trading Floor to ring the Opening Bell. “If we look back to 1893, it was GE’s first CEO, Charles Coffin, who wrote in our first annual report, we’re putting GE together, the result of three companies coming together. And as you think about where we are today, with healthcare not too far away, we’ve come full circle.”
You can watch all of the proceedings on one of the two simultaneous broadcasts of NYSE TV that aired this morning.
https://lnkd.in/eHmvEzSJ
Today the GE Board of Directors approved the spin-off of GE Vernova, clearing the way for the historic launches of GE Vernova and GE Aerospace as independent companies and completing GE’s transformation into three investment grade, industry leaders. We are excited about the future for both companies as GE Vernova leads the energy transition and GE Aerospace defines flight for today, tomorrow and the future. I couldn’t be more proud of the teams or more excited for what’s ahead.
https://lnkd.in/e2yB3RGc
Reimagining GE: Edison’s Vision Meets Culp’s Triple Engines Of Growth Strategy !
GE is defined by its people and visionary leaders, drawing inspiration from figures like Edison who would undoubtedly innovate beyond simple updates to existing technology.
Kelp's decision to focus GE into three distinct areas - GE HealthCare, GE Vernova, and GE Aerospace - aims to drive innovation without the constraints of its other ventures.And his choices might be seen as a challenging call, yet they are not impulsive.
He has diligently explored every innovative option before making his decision.And its taken close to 5 years of immersion and living the “Next New Day” idea.
With the strategy now in place, there's anticipation for how GE will adapt and thrive in the rapidly evolving future.
#lessonsinleadership#inspiringleadership#ge#nextnow#innovatethenext#ceostrategy#ceooutlook
Senior Software Engineer | Expert in Cloud, AI & Platform Engineering | MS, UConn | MTech, MIT Manipal
GE CEO Larry Culp has been making significant changes to bring the company back to its glory days. From the GE AerCap sale to the spin-off of GE Healthcare and the sale of the Biopharma business, Culp has been working to reduce over $110 billion in pensions and liabilities. In addition, he has implemented the Kaizen Japanese Manufacturing Process in GE Aerospace. The results are in, and they are impressive #GE#geaerospace#LarryCulphttps://lnkd.in/eZsCwMkD
What are the implications of #Boeing's potential acquisition of #SpiritAeroSystems? The Managing Director at AeroDynamic Advisory discusses how strong the strategic rationale for the potential acquisition is: https://bit.ly/3vdXO0n
What are the implications of #Boeing's potential acquisition of #SpiritAeroSystems? The Managing Director at AeroDynamic Advisory discusses how strong the strategic rationale for the potential acquisition is: https://bit.ly/3vdXO0n
What are the implications of #Boeing's potential acquisition of #SpiritAeroSystems? The Managing Director at AeroDynamic Advisory discusses how strong the strategic rationale for the potential acquisition is: https://bit.ly/3vdXO0n
What are the implications of #Boeing's potential acquisition of #SpiritAeroSystems? The Managing Director at AeroDynamic Advisory discusses how strong the strategic rationale for the potential acquisition is: https://bit.ly/3vdXO0n
What are the implications of #Boeing's potential acquisition of #SpiritAeroSystems? The Managing Director at AeroDynamic Advisory discusses how strong the strategic rationale for the potential acquisition is: https://bit.ly/3vdXO0n
What are the implications of #Boeing's potential acquisition of #SpiritAeroSystems? The Managing Director at AeroDynamic Advisory discusses how strong the strategic rationale for the potential acquisition is: https://bit.ly/3vdXO0n
Congrats on the listing of GE Vernova and GE Aerospace on the New York Stock Exchange. 🚀