EAST FLAT ROCK GE PLANT IS NOW "CURRENT"...AWAITING WORD ON LOCAL STAFF AND OTHER CHANGES
FROM NOVEMBER 2018: The local GE plant has been manufacturing, mostly lighting..and creating some of thbe best jobs in Western North Carolina...,for well over half a century.
G.E., which put its household and industrial lighting factories on the selling block a year ago, announced three weeks ago that it has signed a proposed agreement to sell the division — called Current, powered by GE — to American Industrial Partners, a New York-based private equity firm that focuses on buying, improving and growing industrial businesses.
As WHKP News reported last fall, the proposed deal is expected to close in early 2019, subject to financing details and regulatory approvals, the news service BusinessWire reported. The price was not disclosed.
The "Current" spokesman told local media last fall that a decision on further changes including staff, could come this spring:
Both the Partnership for Economic Development and the Chamber of Commerce have been monitoring the transaction.
“It’s been in the process for about a year,” said Partnership President Brittany Jones Brady. “We do not see any changes in personnel from the transaction. American has a good portfolio of companies that they have acquired and invested in.” Earlier reports indicated that the parties hoped to finalize the sale in January but the latest Brady had heard was that the closing might some this spring, perhaps March or April.
