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An employee preps a diesel locomotive for painting at the General Electric Manufacturing Solutions facility in Fort Worth, Texas.
General Electric is looking to sell off some of its transportation and healthcare technology-related businesses, according to multiple reports Thursday.
The Wall Street Journal reported the company is looking for a way to leave the railroad business, citing people familiar with the matter.
GE is looking to partner, spin off or possibly sell operations which primarily produce diesel-powered locomotives and railroad equipment, the sources said in the report. The business is one of the industrial conglomerate’s oldest and reported $4.7 billion in revenue last year.
The move is a major part of new CEO John Flannery’s two-year plan to divest assets worth more than $20 billion, sources told the Journal.
Reuters also reported the company is “exploring” selling its healthcare information technology business, which includes such brands as API Healthcare and Centricity EMR, according to people familiar with the matter.
The market didn’t seem to react much to the reports. Shares of GE traded about 0.8 percent lower Thursday afternoon.
GE declined to comment to CNBC.
Flannery took over the company this summer after leading the health care division. The head of GE Transportation, Jamie Miller, is set to become the company’s chief financial officer on November 1. The company unexpectedly announced earlier this month its current CFO, Jeffrey Bornstein, will leave GE on Dec. 31.
— CNBC’s Morgan Brennan contributed to this report.