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GE to move engine plant to Canada as U.S. trade bank languishes

Published 2015-09-28, 10:00 a/m
© Reuters.  GE to move engine plant to Canada as U.S. trade bank languishes
GE
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WASHINGTON, Sept 28 (Reuters) - General Electric (NYSE:GE) Co GE.N
said on Monday it will move production of large, gas-powered
engines to Canada from Waukesha, Wisconsin, along with 350 jobs,
because the company cannot access financing from the U.S.
Export-Import bank.
In its latest salvo aimed at persuading Congress to renew
the trade bank's expired charter, GE said it will invest $265
million in a new state-of-the-art manufacturing plant at a
Canadian location yet to be determined.
Export Development Canada will provide export financing
support for products made in the new plant, GE said.

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