Beatrice Lang
General Electric Company (GE) was an American multinational conglomerate founded in 1892. Over the years, it has had multiple divisions, including aerospace, energy, healthcare, lighting, locomotives, appliances, and finance. GE Appliances was originally a part of General Electric and began marketing a full roster of heating and cooking products in 1907. In 2016, General Electric sold GE Appliances to Haier Group, a Chinese conglomerate based in Qingdao, for $5.6 billion.
| Characteristics | Values |
|---|---|
| Current owner of GE Appliances | Haier Smart Home Company |
| Year of acquisition of GE Appliances | 2016 |
| Amount paid for GE Appliances | $5.6 billion |
| Year GE Appliances was founded | 1907 |
| Location of global headquarters | Louisville, Kentucky |
| Number of manufacturing sites in the US | 7 |
| Number of people employed at the Louisville manufacturing site | 8,100 |
| Year Appliance Park was constructed | 1951 |
| Year of fire at Appliance Park | 2015 |
| Year GE Appliances was a part of General Electric | 2004-2016 |
| Year GE became the first business in the world to own a computer | 1950s |
| Year GE sold its computer division | 1970 |
| Year GE Appliances launched a new tagline | 2017 |
| Year GE ranked 14th in the Fortune 20 | 2011 |
| Year GE reacquired RCA Corporation | 1985 |
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What You'll Learn
GE Appliances was sold to Haier in 2016
GE Appliances, an American home appliance manufacturer, was sold to the Chinese Haier Smart Home Company in 2016. The sale was finalised on June 6, 2016, for $5.6 billion. The deal included the 48.4% stake that GE Appliances owned in Mabe, a Mexican appliance company.
GE Appliances was originally a part of General Electric, which began marketing a full roster of heating and cooking products in 1907. Over the years, GE Appliances has pioneered several innovations, including the first self-cleaning oven and the first over-the-range microwave. The company operates manufacturing sites in several states, including Alabama, Georgia, and South Carolina, and employs thousands of people.
The sale of GE Appliances to Haier was part of a strategic decision by General Electric to focus on its industrial businesses, such as jet engines and power tribunes. The acquisition by Haier, a Chinese manufacturer of household goods, allowed them to expand into international markets.
Since the acquisition, Haier has retained the GE brand name and launched a refreshed tagline, "good things, for life", which pays homage to General Electric's former tagline, "We Bring Good Things to Life". Haier has the right to use the GE brand name until 2056. GE Appliances continues to operate as a leading U.S. maker of home, kitchen, and laundry appliances, with investments in its U.S. facilities and a commitment to innovation and excellence.
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GE's appliance division was initially offered to Electrolux
GE Appliances was originally a part of General Electric, a company that began marketing a full roster of heating and cooking products in 1907. On September 8, 2014, General Electric agreed to sell the company to Electrolux, a Swedish appliance manufacturer and the second-largest consumer appliance manufacturer after Whirlpool Corporation, for $3.3 billion in cash. The deal carried a $175 million termination fee clause if Electrolux was unable to complete the acquisition.
The transaction was terminated in December 2015 after the United States Department of Justice filed a lawsuit to block the deal. The Department of Justice raised concerns that the combined company, along with Whirlpool, would control 90% of the "do-it-yourself" appliance market. Electrolux North America Inc. is a wholly-owned subsidiary of AB Electrolux.
The GE Appliances and Lighting segment was dissolved in 2014 when GE's appliance division was initially offered to Electrolux for $5.4 billion. However, the sale did not go through due to an antitrust filing against Electrolux. Eventually, in June 2016, the division was sold to Haier (now Haier Smart Home Company) for $5.6 billion. Haier has the right to use the GE brand name until 2056.
GE Appliances is one of the largest appliance companies in the United States and manufactures appliances under several brands, including GE, GE Profile, Café, Monogram, Haier, and Hotpoint. The company has a long history of cooking innovation and is responsible for creating the first self-cleaning oven and the first over-the-range microwave. It operates manufacturing sites in several states, including Alabama, Georgia, Tennessee, and South Carolina, and its global headquarters and largest manufacturing site are located in Louisville, Kentucky.
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GE's holdings span the sectors of renewable energy, aviation, and healthcare
GE Appliances was originally a part of General Electric, which began marketing a full roster of heating and cooking products in 1907. In 2014, General Electric agreed to sell the company to Electrolux, a Swedish appliance manufacturer, for US$3.3 billion. However, the transaction was terminated in 2015 after the United States Department of Justice filed a lawsuit to block the deal. Finally, in 2016, Qingdao Haier (now Haier Smart Home Company) acquired GE Appliances for $5.6 billion. Today, GE's holdings span diverse sectors, including renewable energy, aviation, and healthcare.
In the renewable energy sector, GE Vernova is at the forefront, accelerating the transition to more reliable, affordable, and sustainable energy. With approximately 57,000 wind turbines and 7,000 gas turbines, GE Vernova's technology generates about 25% of the world's electricity. The company is committed to reducing the carbon intensity of global power systems and achieving carbon neutrality in its operations.
GE Aerospace, a division of GE, is a prominent provider of jet and turboprop engines, as well as integrated systems for commercial, military, business, and general aviation aircraft. They are dedicated to creating a more sustainable future of flight by developing more efficient aircraft engines compatible with alternative fuels.
GE Healthcare, as a stand-alone company, is a leader in precision care, combining innovation with patient-focused technologies. They aim to improve healthcare by providing integrated solutions that enhance hospital efficiency, clinician effectiveness, therapy precision, and patient health. GE Healthcare strives to create a world where healthcare knows no bounds.
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GE Appliances has manufacturing sites in six states
GE Appliances, previously a part of General Electric, has manufacturing sites in six states. The company was founded in 1907 and has been a pioneer in the appliance industry for over a century. GE Appliances is currently owned by the Chinese Haier Smart Home Company, a publicly-traded affiliate of Haier, after an acquisition from General Electric in 2016.
The company's largest manufacturing site is the Appliance Park facility in Louisville, Kentucky, which produces washing machines, dryers, dishwashers, and bottom-freezer refrigerators. The 750-acre facility employs over 8,000 people who design and build appliances and support corporate operations. In 2023, Appliance Park marked 70 years of manufacturing, announcing a $450 million investment and unveiling new assembly lines in its dishwasher plant.
In addition to its headquarters in Louisville, GE Appliances operates manufacturing sites in four other states: Decatur, Alabama; LaFayette, Georgia; Selmer, Tennessee; and Camden, South Carolina. The Decatur facility produces top freezer refrigerators, while LaFayette manufactures cooking products, and Selmer produces Monogram built-in refrigerators and Zoneline PTACs. The Camden site produces water heating products.
The company also has two microfactories: FirstBuild in Kentucky and CoCREATE in Connecticut. GE Appliances has made significant investments in its U.S. facilities, including $200 million in Appliance Park, $150 million in new distribution centers, and $115 million in its Decatur, Alabama manufacturing facility.
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GE Appliances was founded in 1907
GE Appliances, a leading U.S. maker of home, kitchen, and laundry appliances, was founded in 1907. It was originally a part of General Electric, an American multinational conglomerate founded in 1892 and incorporated in the state of New York.
In 1907, General Electric began marketing a full roster of heating and cooking products. The company has a long history of cooking innovation and is responsible for creating the first self-cleaning oven and the first over-the-range microwave. GE Appliances has been a pioneer in the appliance industry for over a century and is currently headquartered in Louisville, Kentucky.
The company operates manufacturing sites in several states, including Alabama, Georgia, South Carolina, Tennessee, Indiana, and Connecticut. Its global headquarters, Appliance Park, is a 750-acre industrial park in Louisville, Kentucky, employing over 8,100 people. Appliance Park is also home to the company's primary innovation center, with over 1,600 engineers working on breakthrough technologies.
GE Appliances has invested significantly in its U.S. facilities, including a $200 million investment in Appliance Park, Louisville, and $150 million in new distribution centers across several states. The company has also launched new businesses and added U.S. investments since 2016, with a total investment of over $2 billion in its 11 manufacturing plants and microfactories across the U.S.
In June 2016, GE Appliances was acquired by Qingdao Haier, now known as the Haier Smart Home Company, for $5.6 billion. As part of the sale, Haier acquired the right to use the GE brand name until 2056. GE Appliances continues to operate as a leading appliance manufacturer in the United States, known for its innovation and commitment to its communities.
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Frequently asked questions
No, GE Appliances is owned by the Chinese Haier Smart Home Company, a publicly traded affiliate of Haier. The company was acquired from General Electric in 2016 for $5.6 billion.
GE Appliances was originally a part of General Electric, a company that began marketing a full roster of heating and cooking products in 1907. In 2004, it became part of GE Consumer & Industrial when GE Consumer Products merged with GE Industrial Systems. From 2010 to 2014, GE Appliances & Lighting was a sub-business under GE Home & Business Solutions. In 2014, General Electric agreed to sell the company to Electrolux for $3.3 billion, but the deal was terminated in 2015 due to antitrust concerns.
GE Appliances manufactures a wide range of home, kitchen, and laundry appliances, including refrigerators, cooking products, water heating products, and microwaves. The company operates manufacturing sites in several states, including Alabama, Georgia, South Carolina, Tennessee, and Connecticut. It is one of the largest appliance companies in the United States and has a long history of innovation, such as creating the first self-cleaning oven.
