News

GE puts lighting division on the block

By Bill Moss, Published: November 15, 2017

Although announcement by General Electric that the company has put its lighting subsidiary up for sale had workers at GE’s East Flat Rock plant on edge about their future, company officials said no changes are planned in the short term.

In a statement, GE said it hoped to find a buyer for the division, known as Current, that employs about 500 people in Henderson County.
“Recently GE announced its intent to sell Current, powered by GE, as the company works to refocus its mission and simplify its portfolio,” GE said in a statement. “Over the past two years, Current has generated significant growth in delivering new energy efficiency and digital productivity outcomes for its customers. GE’s goal is to find a buyer that can help Current continue progressing on its growth journey.”
Nikolas Noel, director of communications for Current, said GE has no plans for any changes in the East Flat Rock plant while it pursues a sale.
“At this point we’re still very early in the process but our goal is to find a buyer that can help Current continue progressing on a growth journey,” Noel said. As for a plant closing, the company plans “no changes like that, nothing like that all.
“The business is up for sale,” he said. “It will be a process that takes several months. There’s going to be no changes in the short term at all. We plan on keep operating just like it already does.”
Henderson County Chamber of Commerce President Bob Williford said he was aware of the announcement and hoped to learn more.
“We’re still trying to find out more information,” he said. “It’s for sale. What does that mean? Does it keep operating? Do they have a buyer or are they just announcing they’re willing to talk to people. It’s really kind of trying to find out more information at this point.”
In a shareholder call on Monday, General Electric CEO John Flannery described the company’s plan for a more streamlined version of the sprawling industrial manufacturer. In his first update since taking over the company in August, Flannery said GE plans to shed $20 billion worth of assets over the next year or two, including Current and its transportation and industrial solutions divisions, the Boston Business Journal reported.
The uncertainty at the Henderson County plant comes just three years after top company officials visited East Flat Rock to celebrate the results of a three-year, $40 million investment. The executive unveiled a new production area for the manufacture of LED circuit boards. Previously outsourced to overseas vendors, the circuit boards brought new capabilities into the plant, while accelerating customer response times.
The GE Lighting plant is home to approximately 500 employees and contract workers. On an average day, the Hendersonville team produces and ships about 3,000 lighting systems across the globe. Since it opened in 1955, the East Flat Rock plant has put more than 50 million lighting units into service, GE said in 2014.