As managing editor of If there was any doubt at all (and there really wasn't), General Electric Co.'s earnings announcement today confirms that GE Plastics is for sale. Or, as the company says, "We continue to exit slower growth and more volatile businesses, and we are currently reviewing the potential disposition of our Plastics business.
So let the bidding begin!
According to the report, GE Plastics reported sales of $1.64 billion for the three month period that ended Dec. 31, basically flat from the same period a year ago. But profit for the unit was $114 million, down a whopping 44 percent.