GE plans to improve its existing U.S. facilities by investing $450 million over the course of the year. The company plans to use the money to purchase new equipment and upgrade its production plants, a move that GE hopes will bolster it’s position as it looks to create two new, independent companies in the energy and aerospace industry.
GE Aerospace’s $335 million investment will be used to improve productivity, capacity, maintenance, and safety at the company’s U.S. facilities. Similarly, GE Vernova, GE’s portfolio of energy businesses, will use its $117 million investment to improve plant efficiency as the industry transitions to a future of sustainable energy.
In a recent quote, GE Vernova CEO Scott Strazik said, “By improving capacity and modernizing facilities, GE Vernova will be well positioned to further drive decarbonization, increase electrification, and lead the energy transition. These investments will ensure our employees and facilities are ready to support U.S. energy independence and sustainability goals, while positioning the company for long-term stability and success.”
GE Chairman and CEO and GE Aerospace CEO H. Lawrence Culp, Jr., added, “The investments we’re making this year support cutting-edge technology that will help advance the next generation of aerospace manufacturing, ensuring a strong future for our employees, our business, the industry, and our commercial and military customers.”