Posted on August 28, 2013 linda strong ge aviation systems
General Electric (GE) is a multinational corporation that is ranked on the list of Fortune 500 companies and rated 6th overall in terms of gross revenue and 14th overall in terms of profit. In addition, GE is ranked 3rd largest in the Forbes Global 2000, 5th for best global brand, 7th for leaders, 19th for most innovative, and even 63rd on the list of environmentally friendly companies.
Overall, GE ranks among the top companies across the board in an array of different categories relating to profitability, influence, and impact. The company was incorporated in 1892 in Schenectady, New York by Charles Coffin, and Elihu Thomson, Edwin Houston, and most notably, Thomas Edison. Today it is a publicly-traded company on the New York Stock Exchange and is listed on the Dow Jones and S&P 500. Its headquarters is in Fairfield, Connecticut and the current CEO is Jeffrey Immelt. GE is a conglomerate corporation that deals in appliances, aviation, consumer electronics, electric motors, energy, electrical distribution, finance, gas, healthcare, lighting, locomotives, oil, software, weapons, water, and wind turbines. In 2012, it produced revenue of $147.359 billion, net income of $13.641 billion, and total assets of $685.300 billion while employing over 305,000 people. GE operates through the following subsidiaries: GE Aviation, GE Building, GE Capital Finance, GE Energy, GE Healthcare, GE Home & Business Solutions, GE Global Research, and GE Technology Infrastructure.
One such subsidiary, GE Aviation, is one of the top suppliers of aircraft products in the aviation and aerospace industry. It was founded in 1917 and is headquartered in Evendale, Ohio. GE Aviation produces $18.7 billion in annual revenue with 37,800 employees in Aviation Systems. GE Aviation Systems was originally Smiths Aerospace, one of four divisions of Smiths Group. Smiths Aerospace was acquired by General Electric for $4.8 billion, allowing the company to compete with powerhouses Boeing and Airbus. They supply aircraft engines for most commercial aircraft on the market today and also specialized in mechanical systems for avionics, flight management, and store management systems. They were originally General Electric Aircraft Engines (GEAE), until September 2005, when they became GE Aviation. Their main competitors are Rolls-Royce and Pratt & Whitney. GE Aviation is one of the largest divisions at one of the largest conglomerates in the world. GE Aviation itself has the following subsidiaries: Aviation Systems, Walter Engines, CFM International, and Engine Alliance. They operate joint ventures with CFM International and Engine Alliance.
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