General Electric continues transformation; $11B rail deal

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General Electric continues transformation; $11B rail deal

May 21st 2018, 20:11, by The Associated Press

NEW YORK >> General Electric will tie its train engine division to the railroad equipment maker Wabtec in deal worth about $11 billion as GE CEO John Flannery continues to break off parts of the conglomerate.

Wabtec CEO Raymond Betler will lead the combined company and its chairman, Albert Neupaver, will be executive chairman.

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