Skip to Main Content

About Johnson Technology, Inc.

From turbines and oilfield equipment, to aircraft engines and power plants, General Electric is plugged in to industrial equipment businesses that shape the modern world. The company produces aircraft engines, locomotives and other transportation equipment, generators and turbines, lighting, and oil and gas exploration and production equipment. GE also has a healthcare products business, which it plans to separate into a standalone company, and a financial services division, the size of which it is reducing (especially its energy and industrial finance business). More than 40% of GE's sales comes from its US operations.


Aviation is General Electric's largest segment, accounting for almost 35% of its total revenue. Through that division, GE develops military and commercial aircraft, aircraft engines, and associated mechanical and electrical aircraft components. Aviation also provides maintenance, repair, and overhaul services.

Healthcare (about 20% of revenue) products include technology and services for medical imaging, diagnosis and patient monitoring, drug discovery, and biopharmaceutical manufacturing. GE is selling Healthcare's BioPharma segment to Danaher for $21.4 billion; the company is also separating the remaining Healthcare division into a standalone business.

The Power segment (approximately 20% of total revenue) generates energy for industrial, governmental, and other clients via oil, gas, coal, diesel, nuclear, and water technology. The business also offers power system maintenance and upgrade services and power grid products. GE is reorganizing Power into two segments: Power and Gas Power. Power includes the company's steam power and power conversion operations and its nuclear joint ventures with Hitachi and Toshiba. Gas Power comprises gas life cycle activities and power services.

Revenue from the company's Renewable Energy segment accounts for more than 15% of the total revenue. Renewable Energy constructs and services onshore and offshore wind turbines and blades and hydropower technology. GE is reorganizing Renewable Energy to incorporate its grid solutions, solar, and storage assets (which are currently housed under Power).

Capital (accounts for almost 10%) offers financial products and services to clients in markets associated with GE's industrial sectors. GE Capital Aviation Services (GECAS) provides aircraft, components, and materials in addition to financing options including operating leases, sale-leasebacks, secured debt financing, asset trading and servicing, and airframe parts management. GE is narrowing Capital's focus by reducing the segment's energy and industrial financing activities.

Geographic Reach

Based in Boston, Massachusetts, General Electric serves customers in over 170 countries. Manufacturing and service operations are carried out at about 95 manufacturing plants located in 30 states in the US and Puerto Rico and at 190 manufacturing plants located in roughly 35 other countries. Its vast operations are located in Africa, the Americas, Asia, Australia, Europe, and the Middle East.

Sales and Marketing

General Electric's customers include industrial, aviation, transportation, mining, and energy companies; hospitals, medical and research facilities, and pharmaceutical and biotechnology companies; and governments.

Financial Performance

Except in fiscal 2016 when the company revenue peaked at $103 billion, revenue growth for the last five years saw a declining trend. Net income for the same period showed a series of losses.

GE's revenue decreased by 2% to $95.2 billion in 2019 primarily driven by decreased Corporate revenues of $1.0 billion, largely attributable to the sale of its Current business in November 2018 and decreased GE Capital revenues of $0.8 billion. The overall foreign currency impact on consolidated revenues was a decrease of $1.4 billion. Industrial segment organic revenues increased $4.6 billion (5.5%) driven by its Aviation, Renewable Energy and Healthcare segments, partially offset by the Power segment.

The company's net loss decreased by 78% in 2019 compared to the previous year. Gains from continuing operations and modest gain from noncontrolling interests helped mitigate losses from previous year.

GE ended 2019 with cash of $37.1 billion, up 4% from the prior year. Operations provided $8.8 billion, and investments added $8.9 billion (principally because of sale of discontinued operation). Financing activities used $16.1 billion, mainly for repayments and other reductions.


General Electric is making sweeping changes to its business intended to correct years of cash burn – a trend top brass doesn't expect to reverse soon. The company is divesting its interest in less promising segments while streamlining other divisions.

The primary strategic investment objectives are balancing investment risk and return and monitoring the plan's liquidity position in order to meet the near-term benefit payment and other cash needs. Target allocation percentages are established at an asset class level by plan fiduciaries. Target allocation ranges are guidelines, not limitations, and occasionally plan fiduciaries will approve allocations above or below a target range.

The company continues to invest in new product development, such as its HA-Turbines, including upgrades, as these are critical to its customers and the long-term strategy of the business.

General Electric continue to invest in exploring new ways of further improving the efficiency and flexibility of its hydropower technology with digital solutions and in generating wind turbine product improvements, including larger rotors, taller towers and higher nameplate ratings that continue to drive down the cost of wind energy. As industry models continue to evolve, its digital strategy and investments in technical innovation will position the company to add value for customers looking for clean, renewable energy.

Mergers and Acquisitions

In 2019, GE spun off and merged its Transportation segment with US rail equipment producer Wabtec in exchange for $2.9 billion in cash and a 24.3% stake in the company. The division supplies locomotives, mining equipment, marine diesel and stationary power diesel engines for land and offshore drilling. It also provides maintenance, repair, and upgrade services and efficiency software.

Company Background

General Electric was established in 1892 through the merger o Thomson-Houston and Edison General Electric. Charles Coffin was GE's first president, and Thomas Edison, who left the company in 1894, was one of the directors.


Johnson Technology, Inc.

2034 Latimer Dr
Muskegon, MI 49442-6232
Phone: 1 (231) 777-2685

Firm Stats

Employer Type: Privately Owned
Executive Sponsor: Bennett Bassette
Genx Business Leader: Kevin Battle
Project Engineer: Bill Miller
Employees (This Location): 345
Employees (All Locations): 805

Major Office Locations

Muskegon, MI