Why Louisville's mayor thinks this GE-Haier news is good for the city
The agreement for the $5.4 billion sale of GE Appliances to Qingdao Haier Co. Ltd. represents "a new global chapter" in Louisville manufacturing, Louisville Mayor Greg Fischer said at a news conference this morning.
GE Appliances is part of Fairfield, Conn.-based General Electric Co. (NYSE: GE). Haier is a China-based appliances firm. The two companies announced the deal early this morning. This news comes after a deal to sell the appliance arm to Sweden-based AB Electrolux fell apart in December after the government sued to block it because of regulatory concerns.
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