A123 Systems, LLC , a subsidiary of the Chinese Wanxiang Group Holdings, is a developer and manufacturer of lithium iron phosphate batteries and energy storage systems.
72-659: A123 or variation may refer to: A123 Systems , battery manufacturer RFA Olna (A123) , Royal Fleet Auxiliary Ol-class fast fleet tanker of the British Royal Navy highway 123, see List of highways numbered 123 OMB Circular A-123 , a US Office of Management and Budget government circular that defines the management responsibilities for internal controls in Federal agencies. See also [ edit ] 123 (disambiguation) [REDACTED] Topics referred to by
144-533: A $ 3 billion deal and also bought a $ 1.6 billion portfolio of retail credit cards from Citigroup Inc. On October 14, 2010, GE announced the acquisition of data migration & SCADA simulation specialists Opal Software. In December 2010, for the second time that year (after the Dresser acquisition), GE bought the oil sector company Wellstream , an oil pipe maker, for 800 million pounds ($ 1.3 billion). In March 2011, GE announced that it had completed
216-612: A 550 MWh battery plant in Livonia and another in Romulus . An untapped $ 120 million grant was abandoned by A123 by May 2012. From its founding in 2002 through 2011 A123 raised over $ 1B in private equity, public finance and government funding. In September 2010, the company opened the largest lithium-ion battery manufacturing facility in North America in Livonia, Michigan. When fully operational,
288-466: A Power-Assist Hybrid Electric Vehicle (PAHEV) Low-Energy Energy Storage System (LEESS). The company laid off 125 workers in December 2011 as forecasted demand for its batteries did not materialize. The company had 60 customers with a combined projected demand for the equivalent of 100,000 plug in hybrid battery packs and factory capacity for up to 30,000 such packs and facilities capable of expansion to meet
360-604: A US$ 125 million in tax credits and incentives from the Michigan Economic Development Corporation in spring and a US$ 10 million grant from the state in fall 2008. In September 2009, the company raised US$ 380 million after going public on the NASDAQ stock exchange. In 2009, the company was included on the Guardian 's "Global Cleantech 100" list. Later, A123 was selected to Technology Review Magazine's list of
432-526: A controlling interest in the company, while GE would retain a 49% stake and would buy out shares owned by Vivendi. Vivendi would sell its 20% stake in NBCUniversal to GE for US$ 5.8 billion. Vivendi would sell 7.66% of NBCUniversal to GE for US$ 2 billion if the GE/Comcast deal was not completed by September 2010 and then sell the remaining 12.34% stake of NBCUniversal to GE for US$ 3.8 billion when
504-577: A division of GE called GE Information Systems (GEIS). The new company, named GXS , is based in Gaithersburg, Maryland . GXS is a provider of business-to-business e-commerce solutions. GE maintains a minority stake in GXS. Also in 2002, GE Wind Energy was formed when GE bought the wind turbine manufacturing assets of Enron Wind after the Enron scandals . In 2004, GE bought 80% of Vivendi Universal Entertainment,
576-565: A few years later with Thomson-Houston Electric Company , led by Charles Coffin . In 1887, Hart left to become superintendent of the Edison Electric Company. General Electric was formed through the 1892 merger of Edison General Electric Company and Thomson-Houston Electric Company with the support of Drexel, Morgan & Co. The original plants of both companies continue to operate under the GE banner to this day. The General Electric business
648-497: A focus on power, abuse tolerance, durability and cost. USABC is an organization composed of Chrysler LLC , Ford Motor Company , and General Motors Corporation . BAE Systems announced that, from 2008, it would offer A123 Systems' lithium-ion battery technology as part of its HybriDrive Propulsion System used in the 2008 version of the Daimler Orion VII hybrid electric buses . As of September 7, 2009, more than 3,000 of
720-507: A joint venture in steam turbines, plus a €3.1 billion cash investment. In June 2014, a formal offer from GE worth $ 17 billion was agreed by the Alstom board. Part of the transaction involved the French government taking a 20% stake in Alstom to help secure France's energy and transport interests and French jobs. A rival offer from Siemens Mitsubishi Heavy Industries was rejected. The acquisition
792-467: A long-time Edison supporter and investor, proposed to consolidate all of business interests. The proposal was supported by Samuel Insull - who served as his secretary and, later, financier - as well other investors. In 1889, Drexel, Morgan & Co. —a company founded by J.P. Morgan and Anthony J. Drexel —financed Edison's research and helped merge several of Edison's separate companies under one corporation, forming Edison General Electric Company, which
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#1732858087182864-509: A manufacturer of dynamos and large electric motors in Schenectady, New York ; Bergmann & Company, a manufacturer of electric lighting fixtures , sockets , and other electric lighting devices; and Edison Electric Light Company, the patent -holding company and financial arm for Edison's lighting experiments, backed by J. P. Morgan (1837–1913) and the Vanderbilt family . Henry Villard,
936-407: A new company from A123 named 24M Technologies, which makes technology that combines concepts in current lithium-ion batteries with flow batteries, where tanks of liquid electrolytes combine to create an electric current. In 2010, A123 received a US$ 249 million grant from the U.S. Department of Energy for building battery production facilities. Approximately $ 129 million of the grant was used to build
1008-560: A partnership to enable global electrification of transportation. GE invested US$ 20 million in the company to help it roll out batteries for Think. The company and Think at the same time signed a commercial supply agreement. The partnership was announced at the 78th annual international Motor Show in Geneva. After over $ 10 million in investment in the Think Global Think City, A123 ceased production of its L20 battery pack for Think after
1080-461: A single day of production in December, 2008. In January 2009, A123 systems applied to the U.S. Department of Energy's Advanced Technology Vehicles Manufacturing Loan Program (ATVMLP) for US$ 1.84 billion in direct loans to support the construction of new lithium-ion battery manufacturing facilities in the United States, locating the first plant in southeast Michigan near Detroit. The application
1152-641: A supplier to A123, for $ 125 million. On January 28, 2013, Wanxiang America purchased the preponderance of A123's assets out of bankruptcy for $ 256.6M and created A123Systems, LLC. The government business was sold to US firm Navitas Systems for $ 2.25m. In March 2018, the US battery manufacturer Lithium Werks announced it took over the Chinese factory of A123 Systems in Changzhou , plus the workforce and clients base in China, Europe and
1224-459: Is developing a unique polymer electrolyte that claims new levels of safety and performance in advanced batteries. In early 2012, the company announced the replacement of defective battery packs and modules supplied to about five customers, including Fisker Automotive . The defect caused a Fisker Karma to shut down in a Consumer Reports test. It estimated the recall would cost about US$ 55 million. Fisker reduced its purchase order of battery from
1296-562: Is different from Wikidata All article disambiguation pages All disambiguation pages A123 Systems The company was founded in 2001 by Yet-Ming Chiang , Bart Riley, and Ric Fulop. By 2009, it had about 2,500 employees globally and was headquartered in Waltham, Massachusetts . Its original product technology was based upon materials initially developed at the Massachusetts Institute of Technology . In November 2005,
1368-513: Is one of GE's four multifunctional shared services centers worldwide in Pudong , China; Budapest , Hungary; and Monterrey , Mexico. In April 2015, GE announced its intention to sell off its property portfolio, worth $ 26.5 billion, to Wells Fargo and The Blackstone Group . It was announced in April 2015 that GE would sell most of its finance unit and return around $ 90 billion to shareholders as
1440-572: The Fortune 500 as the 33rd largest firm in the United States by gross revenue . In 2023, the company was ranked 64th in the Forbes Global 2000 . In 2011, GE ranked among the Fortune 20 as the 14th most profitable company, but later very severely underperformed the market (by about 75%) as its profitability collapsed. Two employees of GE— Irving Langmuir (1932) and Ivar Giaever (1973)—have been awarded
1512-559: The DATANET-30 and Datanet 355 message switching computers (DATANET-30 and 355 were also used as front end processors for GE mainframe computers). A Datanet 500 computer was designed but never sold. In 1956 Homer Oldfield had been promoted to General Manager of GE's Computer Department. He facilitated the invention and construction of the Bank of America ERMA system, the first computerized system designed to read magnetized numbers on checks. But he
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#17328580871821584-497: The Multics operating system on the GE 645 mainframe computer. The project took longer than expected and was not a major commercial success, but it demonstrated concepts such as single-level storage , dynamic linking , hierarchical file system , and ring-oriented security . Active development of Multics continued until 1985. GE got into computer manufacturing because, in the 1950s, they were
1656-566: The NBC television network for $ 6.28 billion; this merger surpassed the Capital Cities/ABC merger from earlier that year as the largest non-oil company merger in world business history. The remainder of RCA's divisions and assets were sold to various companies, including Bertelsmann Music Group which acquired RCA Records . Thomson SA , which licensed the manufacture of RCA and GE branded electronics, traced its roots to Thomson-Houston, one of
1728-543: The National Broadcasting Company (NBC), which built two radio broadcasting networks. In 1930, General Electric was charged with antitrust violations and was ordered to divest itself of RCA. In 1927, Ernst Alexanderson of GE made the first demonstration of television broadcast reception at his General Electric Realty Plot home at 1132 Adams Road in Schenectady, New York. On January 13, 1928, he made what
1800-564: The Nobel Prize . Following the Great Recession of the late 2000s decade, General Electric began selling off various divisions and assets, including its appliances and financial capital divisions, under Jeff Immelt 's leadership as CEO. John Flannery, Immelt's replacement in 2017, further divested General Electric's assets in locomotives and lighting in order to focus the company more on aviation. After restrictions on air travel during
1872-626: The transmission of electrical power . In 1896, General Electric was one of the original 12 companies listed on the newly formed Dow Jones Industrial Average , where it remained a part of the index for 122 years, though not continuously. In 1911, General Electric absorbed the National Electric Lamp Association (NELA) into its lighting business. GE established its lighting division headquarters at Nela Park in East Cleveland, Ohio . The lighting division has since remained in
1944-474: The 50 Most Innovative Companies 2011. Chrysler's ENVI division was disbanded by Nov 2009. In December 2009, the company formed a joint venture with Shanghai Automotive Industry Corporation (SAIC), the largest automaker in China. This was the first joint venture between a Chinese automaker and a non-Chinese battery supplier. The new venture is called Advanced Traction Battery Systems (ATBS). In August 2010, A123's co-founder Professor Yet-Ming Chiang spun off
2016-399: The 9HA. After the break, GE developed new protective coatings and heat treatment methods. Gas turbines represent a significant portion of GE Power's revenue, and also represent a significant portion of the power generation fleet of several utility companies in the United States. Chubu Electric of Japan and Électricité de France also had units that were impacted. Initially, GE did not realize
2088-530: The COVID-19 pandemic caused General Electric's revenue to fall significantly in 2020, GE's final CEO Larry Culp announced in November 2021 that General Electric was to be broken up into three separate, public companies— GE Aerospace , GE HealthCare , and GE Vernova —by 2024. The new companies are respectively focused on aerospace, healthcare, and energy. GE HealthCare's spin-off was finalized on January 4, 2023. This
2160-639: The Denver television station until in 1986, when General Electric bought out RCA and made it into an owned-and-operated station by NBC . It even stayed on until 1995 when it was transferred to a joint venture between CBS and Group W in a swap deal, alongside KUTV in Salt Lake City for longtime CBS O&O in Philadelphia, WCAU-TV . Stations are arranged in alphabetical order by state and city of license . Led by Sanford Alexander Moss , GE moved into
2232-524: The U.S. Army Air Corps to select GE to develop the nation's first jet engine during the war. This experience, in turn, made GE a natural selection to develop the Whittle W.1 jet engine that was demonstrated in the United States in 1941. GE was ranked ninth among United States corporations in the value of wartime production contracts. However, their early work with Whittle's designs was later handed to Allison Engine Company . GE Aviation then emerged as one of
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2304-520: The U.S. and Canada. The exact terms of the sale were not disclosed, but the final price would be based on the value of the assets at closing, plus a premium according to the parties. In October 2015, activist investor Nelson Peltz 's fund Trian bought a $ 2.5 billion stake in the company. In January 2016, Haier acquired GE's appliance division for $ 5.4 billion. In October 2016, GE Renewable Energy agreed to pay €1.5 billion to Doughty Hanson & Co for LM Wind Power during 2017. At
2376-674: The United States. After the merger the Texas -based company owns factories in China and offices in the US, the Netherlands, Northern Ireland, the UK and Norway. Lithiumwerks continued the production of the 'nanophosphate' battery range, renaming the cells from 'A123' to 'Lithiumwerks' by the end of 2019. Following the sale of their factory, A123 said it wanted to concentrate on the automobile market. Black & Decker and DeWalt power tool lines were early adopters of A123 cells. A123 had LiFePO4 Cells in
2448-443: The acquisition of Hydril Pressure & Control in 2008 for $ 1.1 billion. GE Plastics was sold in 2008 to SABIC (Saudi Arabia Basic Industries Corporation). In May 2008, GE announced it was exploring options for divesting the bulk of its consumer and industrial business. On December 3, 2009, it was announced that NBCUniversal would become a joint venture between GE and cable television operator Comcast . Comcast would hold
2520-455: The acquisition of privately held Lineage Power Holdings from The Gores Group . In April 2011, GE announced it had completed its purchase of John Wood plc's Well Support Division for $ 2.8 billion. In 2011, GE Capital sold its $ 2 billion Mexican assets to Santander for $ 162 million and exited the business in Mexico. Santander additionally assumed the portfolio debts of GE Capital in
2592-485: The buses were in service. In May 2008, the United States Advanced Battery Consortium (USABC) in collaboration with the U.S. Department of Energy (DOE) awarded the company a US$ 12.5 million grant to develop its lithium-ion battery technology for plug-in hybrid electric vehicles. On March 5, 2008, General Electric , the company, and Think Global announced that the three firms had entered
2664-495: The company announced a new, faster-recharging lithium-ion battery system based on doped nanophosphate materials licensed from the Massachusetts Institute of Technology . In December 2006, the United States Advanced Battery Consortium (USABC) in collaboration with the U.S. Department of Energy (DOE) awarded the company a US$ 15 million development contract to optimize A123 Systems' proprietary doped nano- phosphate battery technology for hybrid electric vehicle applications with
2736-792: The company expanded into cable with the launch of a franchise, which was awarded to a non-exclusive franchise in Schenectady through subsidiary General Electric Cablevision Corporation. On February 15, 1965, General Electric expanded its holdings in order to acquire more television stations to meet the maximum limit of the FCC, and more cable holdings through subsidiaries General Electric Broadcasting Company and General Electric Cablevision Corporation. The company also owned television stations such as KOA-TV (now KCNC-TV ) in Denver and WSIX-TV (later WNGE-TV, now WKRN ) in Nashville, but like WRGB, General Electric sold off most of its broadcasting holdings, but held on to
2808-469: The company to lower its inventory. Cylindrical cells made in China that are used by BMW and others were declared as not affected. In August 2012, Chinese automotive components manufacturer Wanxiang Group agreed to invest up to $ 465 million to acquire as much as 80% of A123 Systems; but the acquisition was not completed before A123 filed for bankruptcy . In early October 2012, the A123 Systems' stock
2880-404: The company was renamed back to Baker Hughes. In May 2017, GE had signed $ 15 billion of business deals with Saudi Arabia . Saudi Arabia is one of GE's largest customers. In September 2017, GE announced the sale of its Industrial Solutions Business to ABB . The deal closed on June 30, 2018. On August 15, 2019, Harry Markopolos , a financial fraud investigator known for his discovery of
2952-620: The company's longtime stake in television and film media. In April 2013, GE acquired oilfield pump maker Lufkin Industries for $ 2.98 billion. In April 2014, it was announced that GE was in talks to acquire the global power division of French engineering group Alstom for a figure of around $ 13 billion. A rival joint bid was submitted in June 2014 by Siemens and Mitsubishi Heavy Industries (MHI) with Siemens seeking to acquire Alstom's gas turbine business for €3.9 billion, and MHI proposing
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3024-522: The country. Following this, GE Capital focused on its core business and shed its non-core assets. In June 2012, CEO and President of GE Jeff Immelt said that the company would invest ₹ 3 billion to accelerate its businesses in Karnataka . In October 2012, GE acquired $ 7 billion worth of bank deposits from MetLife Inc . On March 19, 2013, Comcast bought GE's shares in NBCU for $ 16.7 billion, ending
3096-509: The deal was completed or to the public via an IPO if the deal was not completed. On March 1, 2010, GE announced plans to sell its 20.85% stake in Turkey-based Garanti Bank. In August 2010, GE Healthcare signed a strategic partnership to bring cardiovascular Computed Tomography (CT) technology from start-up Arineta Ltd. of Israel to the hospital market. In October 2010, GE acquired gas engines manufacturer Dresser Industries in
3168-492: The demand. Fisker projected 15,000 unit demand in its first production year but only ordered 1500. GM, SAIC, and BMW all fell significantly below projected demand as the EV market developed much slower than anticipated. Simultaneously the US government pulled back on loans to developing clients forcing a series of bankruptcies in the emerging marketplace. Fisker, A123's top client, had its Government loan pulled and it received only $ 196M of
3240-426: The end of October 2016, it was announced that GE was under negotiations for a deal valued at about $ 30 billion to combine GE Oil & Gas with Baker Hughes . The transaction would create a publicly traded entity controlled by GE. It was announced that GE Oil & Gas would sell off its water treatment business, GE Water & Process Technologies, as part of its divestment agreement with Baker Hughes. The deal
3312-465: The factory is expected to be capable of producing battery packs for the equivalent of up to 30,000 electric cars per year. In March 2011, the company received its third contract from the United States Advanced Battery Consortium (USABC) in collaboration with the U.S. Department of Energy (DOE): a US$ 8 million advanced battery development contract to continue developing its Nanophosphate® lithium ion battery systems to meet USABC's target application for
3384-633: The firm looked to trim down on its holdings and rid itself of its image of a "hybrid" company, working in both banking and manufacturing. In August 2015, GE Capital agreed to sell its Healthcare Financial Services business to Capital One for US$ 9 billion. The transaction involved US$ 8.5 billion of loans made to a wide array of sectors, including senior housing, hospitals, medical offices, outpatient services, pharmaceuticals, and medical devices. Also in August 2015, GE Capital agreed to sell GE Capital Bank's on-line deposit platform to Goldman Sachs . Terms of
3456-577: The form 18650, 26650 and Pouch Cells with 14 and 20 Ah. The company EVLithium reports that A123 has additional Pouch cells: A123 38AH NMC Lithium ion Pouch Battery and A123 LiFePO4 Battery 50AH General Electric General Electric Company ( GE ) was an American multinational conglomerate founded in 1892, incorporated in the state of New York and headquartered in Boston . The company had several divisions, including aerospace , energy , healthcare , and finance . In 2020, GE ranked among
3528-495: The largest user of computers outside the United States federal government , aside from being the first business in the world to own a computer. Its major appliance manufacturing plant " Appliance Park " was the first non-governmental site to host one. However, in 1970, GE sold its computer division to Honeywell , exiting the computer manufacturing industry, though it retained its timesharing operations for some years afterward. GE
3600-452: The new field of aircraft turbo superchargers . This technology also led to the development of industrial gas turbine engines used for power production. GE introduced the first set of superchargers during World War I and continued to develop them during the interwar period . Superchargers became indispensable in the years immediately before World War II. GE supplied 300,000 turbo superchargers for use in fighter and bomber engines. This work led
3672-545: The original components of GE. Also in 1986, Kidder, Peabody & Co. , a U.S.-based securities firm, was sold to GE and following heavy losses was sold to PaineWebber in 1994. In 1997, Genpact was founded as a unit of General Electric in Gurgaon . The company was founded as GE Capital International Services (GECIS). In the beginning, GECIS created processes for outsourcing back-office activities for GE Capital such as processing car loans and credit card transactions. It
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#17328580871823744-651: The originally committed $ 500M loan. A123 had to issue a battery recall for all batteries in a car developed by Fisker . A123 Systems had more than 3000 employees as of December 2012. In 2010 the company invested in Fisker Automotive 's Karma with Ace Investments and Kleiner, Perkins, Caufield & Byers . The company formed a joint venture with SAIC Motor to manufacture its batteries in China in early 2010. In February 2018, A123 announced an investment in Ionic Materials' solid-state battery technology. Ionic
3816-552: The parent of Universal Pictures from Vivendi . Vivendi bought 20% of NBC, forming the company NBCUniversal . GE then owned 80% of NBCUniversal and Vivendi owned 20%. In 2004, GE completed the spin-off of most of its mortgage and life insurance assets into an independent company, Genworth Financial , based in Richmond, Virginia . In May 2007, GE acquired Smiths Aerospace for $ 4.8 billion. Also in 2007, GE Oil & Gas acquired Vetco Gray for $ 1.9 billion, followed by
3888-509: The remedies proposed by GE were insufficient to resolve the competition concerns resulting from the proposed acquisition of Honeywell". On June 27, 2014, GE partnered with collaborative design company Quirky to announce its connected LED bulb called Link. The Link bulb is designed to communicate with smartphones and tablets using a mobile app called Wink . In December 1985, GE reacquired the RCA Corporation , primarily to gain ownership of
3960-685: The same location. Owen D. Young, who was then GE's general counsel and vice president, through GE, founded the Radio Corporation of America (RCA) in 1919. This came after Young, while working with senior naval officers, purchased the Marconi Wireless Telegraph Company of America , which was a subsidiary of the British company Marconi Wireless and Signal Company. He aimed to expand international radio communications. GE used RCA as its retail arm for radio sales. In 1926, RCA co-founded
4032-449: The same term This disambiguation page lists articles associated with the same title formed as a letter–number combination. If an internal link led you here, you may wish to change the link to point directly to the intended article. Retrieved from " https://en.wikipedia.org/w/index.php?title=A123&oldid=1245623003 " Category : Letter–number combination disambiguation pages Hidden categories: Short description
4104-455: The stipulation that the company's bid must be approved by a US bankruptcy court and could be topped by a rival bidder. Johnson did not win the bankruptcy auction and withdrew its bid in early December. On October 16, 2012, A123 filed for bankruptcy protection under Chapter 11 . The filing listed assets of $ 459.8 million and liabilities of $ 376 million. The company also stated that its automotive assets would be purchased by Johnson Controls ,
4176-505: The time, and GE increased engineering and supplies for the Wind Division and doubled the annual sales to $ 1.2 billion in 2003. It acquired ScanWind in 2009. In 2018, GE Power garnered press attention when a model 7HA gas turbine in Texas was shut down for two months due to the break of a turbine blade . This model uses similar blade technology to GE's newest and most efficient model,
4248-596: The transaction were not disclosed, but the sale included US$ 8 billion of on-line deposits and another US$ 8 billion of brokered certificates of deposit. The sale was part of GE's strategic plan to exit the U.S. banking sector and to free itself from tightening banking regulations. GE also aimed to shed its status as a "systematically important financial institution". In September 2015, GE Capital agreed to sell its transportation finance unit to Canada's Bank of Montreal . The unit sold had US$ 8.7 billion (CA$ 11.5 billion) of assets, 600 employees, and 15 offices in
4320-500: The turbine blade issue of the 9FB unit would impact the new HA units. GE was one of the eight major computer companies of the 1960s along with IBM , Burroughs , NCR , Control Data Corporation , Honeywell , RCA , and UNIVAC . GE had a line of general purpose and special purpose computers, including the GE 200 , GE 400 , and GE 600 series general-purpose computers, the GE/PAC 4000 series real-time process control computers, and
4392-461: The world's largest engine manufacturers, bypassing the British company Rolls-Royce plc . Some consumers boycotted GE light bulbs, refrigerators, and other products during the 1980s and 1990s. The purpose of the boycott was to protest against GE's role in nuclear weapons production. In 2002, GE acquired the wind power assets of Enron during its bankruptcy proceedings. Enron Wind was the only surviving U.S. manufacturer of large wind turbines at
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#17328580871824464-599: Was a major provider of computer time-sharing services through General Electric Information Services (GEIS, now GXS), offering online computing services that included GEnie . In 2000, when United Technologies Corp. planned to buy Honeywell, GE made a counter-offer that was approved by Honeywell. On July 3, 2001, the European Union issued a statement that "prohibit the proposed acquisition by General Electric Co. of Honeywell Inc.". The reasons given were it "would create or strengthen dominant positions on several markets and that
4536-597: Was an experimental concept at the time and the beginning of the business process outsourcing (BPO) industry. GE sold 60% stake in Genpact to General Atlantic and Oak Hill Capital Partners in 2005 and hived off Genpact into an independent business. GE is still a major client to Genpact today for services in customer service, finance, information technology, and analytics. In 2001, GE acquired Spanish-language broadcaster Telemundo and incorporated it into NBC. In 2002, Francisco Partners and Norwest Venture Partners acquired
4608-644: Was cleared by the EU in May 2017, and by the United States Department of Justice in June 2017. The merger agreement was approved by shareholders at the end of June 2017. On July 3, 2017, the transaction was completed, and Baker Hughes became a GE company and was renamed Baker Hughes, a GE Company (BHGE). In November 2018, GE reduced its stake in Baker Hughes to 50.4%. On October 18, 2019, GE reduced its stake to 36.8% and
4680-607: Was expected to be completed in 2015. In October 2014, GE announced it was considering the sale of its Polish banking business Bank BPH . Later in 2014, General Electric announced plans to open its global operations center in Cincinnati , Ohio. The Global Operations Center opened in October 2016 as home to GE's multifunctional shared services organization. It supports the company's finance/accounting, human resources, information technology, supply chain, legal and commercial operations, and
4752-604: Was fired from GE in 1958 by Ralph J. Cordiner for overstepping his bounds and successfully gaining the ERMA contract. Cordiner was strongly against GE entering the computer business because he did not see the potential in it. In 1962, GE started developing its GECOS (later renamed GCOS) operating system , originally for batch processing , but later extended to time-sharing and transaction processing . Versions of GCOS are still in use today. From 1964 to 1969, GE and Bell Laboratories (which soon dropped out) joined with MIT to develop
4824-523: Was followed by the spin-off of GE's portfolio of energy businesses on April 2, 2024, into GE Vernova. Following these transactions, General Electric Company changed its trading name to GE Aerospace, pivoted to aviation, and ceased to exist as a conglomerate. During 1889, Thomas Edison (1847–1931) had business interests in many electricity-related companies, including Edison Lamp Company, a lamp manufacturer in East Newark, New Jersey ; Edison Machine Works ,
4896-636: Was incorporated in New York on April 24, 1889. The new company acquired Sprague Electric Railway & Motor Company in the same year. The consolidation did not involve all of the companies established by Edison; notably, the Edison Illuminating Company , which would later become Consolidated Edison , was not part of the merger. In 1880, Gerald Waldo Hart formed the American Electric Company of New Britain, Connecticut , which merged
4968-452: Was incorporated in New York, with the Schenectady plant used as headquarters for many years thereafter. Around the same time, General Electric's Canadian counterpart, Canadian General Electric , was formed. In 1893, General Electric bought the business of Rudolf Eickemeyer in Yonkers, New York , along with all of its patents and designs. Eickemeyer's firm had developed transformers for use in
5040-433: Was said to be the first broadcast to the public in the United States on GE's W2XAD : the pictures were picked up on 1.5 square inches (9.7 square centimeters) screens in the homes of four GE executives. The sound was broadcast on GE's WGY (AM) . Experimental television station W2XAD evolved into the station WRGB , which, along with WGY and WGFM (now WRVE ), was owned and operated by General Electric until 1983. In 1965,
5112-546: Was still pending as of early 2012, the company estimated that it might be allowed to borrow up to US$ 233 million from the program. In April 2009, Chrysler Corp. announced a contract with A123 to supply batteries for their ENVI EV vehicles. In August 2009, the company received a US$ 249 million grant from the U.S. Department of Energy 's Advanced Technology Vehicles Manufacturing Loan Program (ATVMLP) to build production facilities in Romulus and Livonia, Mich. after it received
5184-482: Was trading for 27 cents per share, down from a 52-week high of $ 4.44 per share about a year beforehand. On October 16, 2012, A123 filed for bankruptcy protection under Chapter 11 . On January 28, 2013, Wanxiang America purchased the preponderance of A123's assets out of bankruptcy for $ 256.6M and organized A123Systems, LLC. An earlier statement, released by A123 Systems in early October, said that it had entered an asset purchase agreement with Johnson Controls , with
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