Together we are well positioned to take advantage of the opportunities created by industry trends toward efficiency and improved performance and, with the merger complete, we are focused on leveraging our complementary portfolios to spur growth.” In a sense, GE is covering its 2018 dividend by borrowing money and relying on asset sales. With aggressive cost actions and synergies stemming from the Wabtec and GE Transportation merger on-track, we expect to see a net synergy benefit of over $150 million in 2020. Wabtec brings to market a robust installed base of more than 23,000 locomotives globally, an expanded global reach, a strong mix of products and services, as well as enhanced capabilities to drive innovation faster in key growth areas.
As of Jun 30, Wabtec had $587.9 million in cash and cash equivalents compared with $604.2 million at the end of 2019. Explore a career with us.Discover how our people & technology are solving global issues, improving lives, and changing industries.Explore the latest stories, news, downloads, and press tools.Read the latest GE financial news releases and stories.GE Aviation is a world-leading provider of aircraft engines, systems and avionics.Explore a timeline of GE technologies that have spurred transformation across the world.We connect capital to infrastructure and deliver innovative financial solutions that help make the world work better.Access GE’s recent and historic Annual Reports and accompanying materials.Learn how we’re delivering on our priorities.Answers to popular and relevant inquiries.Find yourself a world changing job.Tune in or catch up on GE’s latest investor events and reports.By embracing diverse teams and perspectives, we are better equipped to build a world that works.Learn more about our culture, businesses, and life at GE.Accomplished leaders building GE’s legacy.We build intelligent devices, data analytics, applications and services to enable healthcare practitioners to deliver care more efficiently and with better outcomes.Creating the energy technologies of the future and improving the power networks that we depend on today.Transforming how industry solves its toughest challenges by bringing simplicity, speed and scale to digital transformation.Contact information for general inquiries and feedback.GE's dedicated team, leading technology, and global reach and capabilities help the world work more efficiently, reliably, and safely.Explore GE’s recent and historic SEC filings.Commercializing GE’s technology and IP to accelerate growth and achieve market differentiation.A culture of integrity, compliance, safety, and respect for human rights, while reducing our environmental footprint.We’re continuing to do all we can to support our customers and employees during this unprecedented time. Shares of GE Transportation common stock would be converted into shares of Wabtec common stock in the merger, including the retained shares held by GE . GE Chairman and CEO H. Lawrence Culp, Jr., said, “Today’s update is another important landmark in executing GE’s portfolio strategy. We’re deeply proud of GE employees around the world rising to the challenge.“This transaction is good for GE shareholders, who gain equity in an organization at the forefront of rail innovation; for GE, as we work to reduce leverage and strengthen our balance sheet; and for Wabtec, which now has a stronger and more diversified business mix to serve its customers,” said GE Chairman and CEO H. Lawrence Culp Jr. “The GE and Wabtec teams worked hard to complete this deal, and I am excited by the opportunities ahead for Wabtec.”The combined company, which is expected to have revenues of more than $8 billion in 2019, has approximately 27,000 employees in 50 countries. Let's start by breaking out who will own what after the merger. The end result will be a more vertically integrated freight car business that is… Read More » However, GE is pre-funding its pension plan to the tune of $6 billion in 2018 by borrowing the same amount.
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