GE looks to exit the locomotive business as CEO seeks to escape slump

GENERAL ELECTRIC is looking for ways to get out of the locomotive business, one of the 125-year-old company's oldest operations, the Wall Street Journal reported.

The Boston-based company is studying options such as bringing in a partner, spinning the division off or selling it, the newspaper reported, citing people familiar with the matter. 



GE is also considering the divestiture of its health-care information technology business, Reuters reported.



GE's new CEO John Flannery pledged to unload US$20 billion in assets last week as he seeks to streamline the portfolio. GE has tumbled more than 30 per cent this year, the biggest decline on the Dow.



The locomotive-manufacturing unit, known as GE Transportation, is led by Jamie Miller, who is set to take over as the parent company's chief financial officer next month.