November 24, 2014
GE closing U.S. engine plant, moving to Canada; cites lack of U.S. export financing
Winnipeg Free Press | By: The Canadian Press | Posted: 09/28/2015 2:45 PM
FAIRFIELD, Conn. – General Electric is closing an engine manufacturing plant an Wisconsin and says it will invest US$265 million to build a new one in Canada in a move to take advantage of Canadian export credit financing.
The company announced Monday that work on the new plant, which will initially provide 350 jobs, is expected to be completed in 20 months.
The planned location of the new plant was not disclosed.
GE currently employs 350 at its manufacturing facility in Waukesha, Wis., building gas engines for compression, mechanical drive and power generation applications.
The company said the new state-of-the-art plant in Canada and will be a flexible facility that can expand over time and also support manufacturing requirements for other GE businesses.
“With today’s announcement, GE fully expects to expand its relationship with EDC (Export Development Canada) in support of the company’s Power & Water, Oil & Gas and Transportation businesses,” the company said in a statement.