GE meaning in Business ?

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What is General Electric Company mean?

The General Electric Company, or GEC, was a major British industrial conglomerate involved in consumer and defence electronics, communications, and engineering. The company was founded in 1886, was Britain's largest private employer with over 250,000 employees in the 1980s, and at its peak in the 1990s, made profits of over £1 billion a year.

In June 1998, GEC sold its share of the joint venture GEC-Alsthom on the Paris stock exchange. In December 1999, GEC's defence arm, Marconi Electronic Systems, was sold to British Aerospace, forming BAE Systems.

The rest of GEC, mainly telecommunications equipment manufacturing, continued as Marconi Communications. After buying several US telecoms manufacturers at the top of the market, losses following the bursting of the dot-com bubble in 2001 led to the restructuring in 2003 of Marconi plc into Marconi Corporation plc. In 2005, Ericsson acquired the bulk of that company. What was left of the business was renamed Telent.

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Posted on 02 Oct 2024, this text provides information on Miscellaneous in Business related to Business. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.

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