GE Aviation to Build Parts Facility in Western NC and 2 Other Dow Movers to Watch
General Electric Company (NYSE:GE): Current price $23.78
GE Aviation, which specializes in jet engines and aircraft system output, will begin construction sometime this year on a parts factory in Western North Carolina near the mountain resort of Asheville. The General Electric division’s new facility is being raised adjacent to an existing GE machining plant. GE Aviation reports that the new factory will produce engine components made from advanced ceramic matrix composite materials, and that hiring at the new plant may start as early as 2014, with a workforce at the factory possibly expanding to over 340 people within five years. The new facility is part of a greater commitment by GE Aviation to invest some $195 million across its North Carolina operations through 2017.