GE to invest $16 million in Additive Manufacturing as part of $450 million investment
March 9, 2023
GE has announced plans to invest over $450 million in its existing US manufacturing facilities this year, with the purchase of new equipment and making upgrades said to position the company for a strong future in advance of its planned creation of two independent companies in energy and aerospace.
Of this investment, GE Aerospace expects to spend more than $335 million across its US facilities, including an investment of $16 million to upgrade its Additive Manufacturing capabilities in Auburn, Alabama.
“GE Aerospace is a world leader in aircraft engine production due in large part to the strength and ingenuity of our US employee base,” stated H Lawrence Culp, Jr, chairman and CEO of GE and CEO of GE Aerospace. “The investments we’re making this year support cutting-edge technology that will help advance the next generation of aerospace manufacturing, ensuring a strong future for our employees, our business, the industry, and our commercial and military customers.”
This year’s investments will provide additional support for assembly improvements, capacity expansion and maintenance, and enhanced safety infrastructure upgrades. GE Aerospace’s investment in US manufacturing will also positively impact productivity and quality for its sites in Lynn, Massachusetts; Evendale, Ohio; Lafayette, Indiana; Madisonville, Kentucky; and the aforementioned site in Alabama.
GE Vernova, GE’s portfolio of energy businesses, expects to make upwards of $117 million investments this year – including capacity upgrades, facility maintenance, and equipment and tool management – to bolster its efforts in driving the energy transition and accelerating the path to reliable, affordable, and sustainable energy. The investment will go on to support facilities in Greenville, South Carolina; Pensacola, Florida; and Schenectady, New York.
“By improving capacity and modernising facilities, GE Vernova will be well positioned to further drive decarbonisation, increase electrification, and lead the energy transition,” added Scott Strazik, CEO of GE Vernova. “These investments will ensure our employees and facilities are ready to support US energy independence and sustainability goals while positioning the company for long-term stability and success.”
GE currently employs more than 45,000 employees and operates fifty-eight manufacturing facilities in the US.
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