GE closing U.S. engine plant, moving it to Canada

FAIRFIELD, Conn.—General Electric is closing an engine manufacturing plant in Wisconsin and says it will invest US$265 million to build a new one in Canada.

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The industrial mega-company is looking to take advantage of Canadian export credit financing. In a Sept. 28 announcement, GE said that work on the new plant, which will initially provide 350 jobs, is expected to be completed in 20 months. More...