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 has announced a new agreement with ulrich medical to launch its branded CT Motion injector in the U.S. market. This innovative, multi-dose, syringeless technology improves patient throughput by saving up to three minutes and 30mL of contrast media per procedure, addressing the growing demand for iodinated contrast media. The U.S. contrast media injector market is projected to grow at 4.3% annually from 2022 to 2030. GE also invested $30 million in manufacturing and $80 million in capacity expansion, aiming to produce 30 million additional patient doses by 2025.
GE Healthcare has unveiled SIGNA Experience, a new integrated platform aimed at enhancing MRI scanning efficiency for healthcare professionals and patients. The cornerstone is SIGNA One, featuring an intuitive user interface designed for ease of use and efficiency. The platform incorporates AI/deep-learning solutions, automated workflow technologies, and advanced AIR coils for improved scanning flexibility. By addressing challenges like radiologist shortages and backlog from COVID-19, SIGNA Experience promotes productivity across various skill levels. All components of SIGNA Experience are currently commercially available.
Ahead of its spinoff in January 2023, GE Healthcare introduced over 40 solutions at the RSNA 2022 Annual Meeting aimed at enhancing patient outcomes and healthcare efficiency. Emphasizing integrated data and analytics, the company addresses significant industry challenges, including rising costs and staff shortages. Key innovations include the SIGNA Experience, Revolution Apex CT platform, and various collaborations in precision oncology, positioning GE Healthcare as a leader in medical technology and personalized care.
GE announced the "Reference Yield" for its offer to purchase up to $7 billion of various securities as part of a Tender Offer. The aggregate principal amount of tendered securities is expected to exceed this maximum amount. The Offer to Purchase, which outlines the terms of the Tender Offer, is available online. Key details include applicable yields and acceptance priority levels for different security series. The Tender Offer's expiration date is set for December 7, 2022, and early participation offers a $50 bonus per $1,000 principal amount for securities tendered before the Early Participation Date.
GE has announced the results of its Tender Offer as of 5:00 p.m. on November 22, 2022, with approximately $9.3 billion in U.S. dollars, £629 million in Pounds Sterling, and €865 million in Euros validly tendered. The company intends to purchase up to $7 billion in securities; however, the total tendered may exceed this amount. The Tender Offer's Expiration Date is set for December 7, 2022. This offer allows GE to manage its debt obligations more effectively.
General Electric (GE) announced the successful closure of its offering of $1 billion 5.550% senior notes due 2024 and additional senior notes totaling $5.5 billion. These offerings are part of the financing for the planned spin-off of GE HealthCare, expected to finalize in early January 2023. The proceeds will go towards settling debt obligations linked to the spin-off. GE will be released from its guarantees upon completion of the transaction. GE HealthCare will become a standalone corporation, named GE HealthCare Technologies Inc..
GE Healthcare has launched an intelligent workload management solution for PACS, aimed at streamlining radiology workflows. This solution can boost interpretation production by up to 21% and significantly reduce scan time by 50%, enhancing patient care and clinician productivity. Key metrics show a 16.7% improvement in STAT turnaround time and a 20.5% enhancement in emergency departmental turnaround time. With radiologist shortages projected by 42,000 in the U.S. by 2033, these innovations are crucial to mitigate burnout and improve healthcare delivery.
GE Healthcare has announced an $80 million investment to expand its Active Pharmaceutical Ingredients facility in Lindesnes,
General Electric (GE) announced the pricing of $8.25 billion in senior notes to fund the spin-off of GE HealthCare, expected to finalize in early January 2023. This includes various notes with due dates ranging from 2024 to 2052, featuring interest rates between 5.550% and 6.377%. The notes will be guaranteed by GE until the spin-off is completed. GE HealthCare aims to secure a strong investment-grade credit rating post-spin-off and will become GE HealthCare Technologies Inc.. The offering is aimed at institutional buyers under specific regulations.
Hyliion Holdings Corp. (NYSE: HYLN) reported its Q3 2022 financial results, generating $0.5 million in revenue and maintaining a cash position of over $455 million. The company closed the acquisition of the KARNO generator from GE Additive, enhancing its hydrogen-fuel capabilities. Hyliion announced its Founders Program for the first 200 Hypertruck ERX units and confirmed the trucks qualify for a 30% tax credit under the Inflation Reduction Act. The updated revenue guidance for 2022 is approximately $2 million, with operating expenses projected at $130 million.
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