Toby Smith Stock Review

[MLD38]

GE to Close Some Lighting Plants, focus on LEDs, etc
Oct 4, 2007
...demand for the incandescent bulb has declined over the past five years due to new technology and efficiency standards...
GE to ...focus on the development and production of new, innovative lighting products like LEDs, organic LEDs,...
http://www.msnbc.msn.com/id/21137745/
Jim Campbell, president and chief executive officer of GE Consumer & Industrial, said:
..."It doesn't make sense for us to continue with an inefficient model,"...
..."The proposed plan would allow us to continue to reinvent our production model to use our global factory more efficiently and effectively."...
..."The company can now purchase components at more competitive prices, making it more expensive to continue making the lighting-product components in-house,"...
..."The restructuring we are proposing, while very difficult due to the impact on employees, would be one of the most important things we've done in the 100-plus-year history of GE's lighting business,"...
..."We are increasing our focus on the development and production of new, innovative lighting products like LEDs, organic LEDs, our new high efficiency incandescent light bulbs and other products that our customers will increasingly demand and require,"...