Welcome to our dedicated page for GE Aerospace news (Ticker: GE), a resource for investors and traders seeking the latest updates and insights on GE Aerospace stock.
GE Aerospace, a segment of General Electric Company (NYSE: GE), is a global leader in the design, manufacture, and service of aircraft engines. Founded in 1892 and headquartered in Boston, GE has a rich history tied to American inventor Thomas Edison. While GE operates in multiple industries including power, renewable energy, digital industry, and additive manufacturing, GE Aerospace remains its core business.
With nearly 70,000 commercial and military engines installed worldwide, GE Aerospace generates significant revenue from the recurring service and maintenance of these engines. The company's partnership with Safran in their CFM joint venture further solidifies its leadership in aerospace propulsion.
Recent achievements for GE Aerospace include significant deals and technological advancements. Notably, GE Aerospace retained its portfolio of intellectual property related to aerospace and defense technologies after a definitive agreement with Dolby Laboratories to acquire GE Licensing. This acquisition, valued at $429 million and expected to close by the end of fiscal year 2024, highlights GE Aerospace's focus on its core aerospace and defense markets.
In another major development, GE Vernova's Onshore Wind business, a part of GE's power and renewable energy segment, announced a landmark deal with Pattern Energy. This deal involves the supply of 674 wind turbines for the SunZia Wind project, set to be the largest wind project in the Western Hemisphere. This project is a testament to GE's commitment to renewable energy and showcases its ability to deliver large-scale, high-efficiency projects.
Moreover, GE Aerospace continues to innovate with products like the 3.6-154 wind turbine, which incorporates advanced AI-trained blade manufacturing processes. This turbine is built to meet U.S. market needs and is part of GE's strategy to drive quality and reliability across its fleet.
Financially, GE Aerospace is robust, leveraging its longstanding expertise and extensive global network to maintain a strong market position. The company's continuous investments in technology, such as the new manufacturing assembly line for its Onshore Wind business in Schenectady, New York, reflect its commitment to enhancing American manufacturing and supporting climate change goals.
GE Aerospace's mission to define the future of flight and bring innovative solutions to the aerospace and defense sectors is backed by its substantial workforce of 52,000 employees globally. The company's operations aim to provide affordable, reliable, sustainable, and secure energy solutions, reinforcing its leadership in the industry.
GE Healthcare is partnering with the American College of Cardiology (ACC) to advance digital health innovation in cardiology. This collaboration aims to leverage AI and digital technology to enhance patient care pathways for conditions like atrial fibrillation and coronary artery disease. The ACC's Consortium will unite diverse stakeholders to build a roadmap for AI integration in healthcare, with GE contributing its Edison platform, which serves as a foundation for AI applications in cardiovascular care.
GE (NYSE:GE) has announced its tender offers to purchase debt securities, including the 'Any and All Notes' and 'Capital Notes' with a maximum aggregate purchase price of up to $1,000,000,000 each. The offers aim to reduce leverage in line with GE's strategic objectives. Key deadlines include the Early Participation Date on June 7, 2021, and the Expiration Date on June 21, 2021. Accepted notes will be retired, reducing GE's outstanding obligations and potentially strengthening its financial position.
GE (NYSE:GE) has announced multiple cash offers to purchase its debt securities, including the Any and All Tender Offer for $2.865 billion, Capital Notes Tender Offer and Company Notes Tender Offer, each capped at $1 billion. These offers aim to reduce leverage by retiring outstanding debt. The tender offers commence on May 24, 2021, with various critical dates including early participation and expiration dates. The Total Consideration will vary for each series of notes and will include accrued interest. GE reserves the right to amend or terminate the offers at its discretion.
GE Digital has been recognized in the top four for critical capabilities in the 2021 Gartner Critical Capabilities for Manufacturing Execution Systems report. The company’s flagship software, Proficy Plant Applications, enhances operations management across various manufacturing sectors. Developed over 25 years, it integrates data management and production processes to optimize performance and reduce costs. This recognition underscores GE Digital's commitment to providing innovative industrial software that meets diverse manufacturing needs.
Current Lighting Solutions and GE have signed a collaboration agreement focused on Potassium Fluorosilicate (PFS/KSF) phosphor for MiniLED and MicroLED applications. This partnership aims to enhance next-generation display technologies, building on their established relationship in phosphor development. Bill Cohen from Current emphasizes the innovation potential, while Patrick Patnode from GE highlights customer benefits. Both companies will leverage each other's expertise to bring phosphor innovations to market effectively.
GE Healthcare has announced the acquisition of Zionexa, a company specializing in in-vivo oncology and neurology biomarkers, aiming to enhance personalized healthcare. The acquisition focuses on the development of Zionexa’s pipeline biomarkers and the FDA-approved PET imaging agent, Cerianna, which aids in detecting estrogen receptor-positive lesions in patients with metastatic breast cancer. GE plans to expand Cerianna's accessibility from 25% to at least 75% of the patient population by 2023. Financial details of the acquisition remain undisclosed.
RWE Renewables has partnered with GE Renewable Energy to repower the Panther Creek III wind farm in West Texas, enhancing the efficiency of 133 turbines. This project began production in 2009 and is expected to be complete by Q3 2021. The upgrades include the installation of longer blades and new gearboxes, which will increase the farm's annual output from its 215 MW capacity. Additionally, used turbine blades will be recycled, contributing to a sustainable circular economy.
GE Renewable Energy’s Grid Solutions (NYSE: GE) and Hitachi ABB Power Grids have announced a non-exclusive cross-licensing agreement to utilize a fluoronitrile-based gas mixture as an alternative to sulfur hexafluoride (SF6). This eco-efficient solution notably reduces environmental impact and aims to standardize SF6-free technology in high voltage equipment. The agreement highlights the growing commitment of both companies to aiding utilities in decreasing greenhouse gas emissions, with GE’s g3 gas showing over 99% lower global warming potential compared to SF6.
General Electric (NYSE:GE) and GE Capital Funding have launched an Exchange Offer for $6.0 billion in Outstanding Notes with maturities from 2025 to 2032. This offer includes 3.450% Notes due 2025, 4.050% Notes due 2027, 4.400% Notes due 2030, and 4.550% Notes due 2032, all fully guaranteed by GE. The Exchange Offer aims to meet obligations under registration rights agreements, with no proceeds going to either GE or GECF. The offer expires on May 5, 2021, with settlement following shortly after. The details are available in a prospectus filed with the SEC.
GE Digital announced that Lineas Aereas Suramericanas (LAS) Cargo has contracted its Electronic Flight Operation Quality Assurance (eFOQA) solution to enhance safety compliance in Colombia. eFOQA enables airlines to automate data processes, improve safety performance, and reduce costs by analyzing flight data. The system also aids in minimizing carbon footprints through fuel analytics. GE Digital aims to support LAS Cargo in achieving safer and more efficient operations as part of a long-term partnership.
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