Cleveland-based GE Lighting recently announced its investment plans for its manufacturing unit at Bucyrus, Ohio. The company will be investing more than $60 million to expand the manufacturing of its energy-efficient lighting products.
 
GE Lighting is a unit of General Electric Co’s (GE) Kentucky-based Appliances & Lighting business. The investment plan was welcomed by all, including the company’s executives and employees. It enhances GE’s potential to sell its energy-efficient fluorescent products in global markets, including the U.S., Europe, Latin America and the Middle East. Also, it nearly doubles the employment at the plant with more than 130 new jobs expected to be created over the next few years.
 
The company installed new production lines and anticipates commercialization of products in December. GE Lighting’s initiative for job creation attracted approximately $1.2 million from the State of Ohio for the training of new employees and roughly $20 million in income tax credits related to the project from the federal government.
 
In addition to GE Lighting’s $60 million investment plan, another GE business, GE Appliances, is investing approximately $600 million in its manufacturing and other facilities at Appliance Park in Louisville, Kentucky. The multi-year (2010-2014) plan will be creating roughly 830 new jobs and will primarily focus on innovation and manufacturing in the U.S.
 
General Electric Company is a global infrastructure, finance and media company. With products and services ranging from aircraft engines, power generation, water processing, and security technology to medical imaging, business and consumer financing, media content and industrial products, it serves customers in more than 100 countries and employs more than 300,000 people worldwide.
 
We currently maintain a Neutral recommendation on the stock.
 
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