Friday, May 18, 2007

GE to sell plastics unit

GE close to finalizing plastics sale to Sabic: report (Reuters)

A kettle made with products from GE plastics in an undated file photo. General Electric Co. is in the final stages of selling its plastics unit for about $11 billion, more than many analysts expected, the Wall Street Journal reported in its online edition on Thursday. (General Electric Company/Handout/Reuters)Reuters - General Electric Co. is close to selling its plastics unit for almost $11 billion to Riyadh-based chemicals company Saudi Basic Industries Corp. <2010.SE (Sabic), the Wall Street Journal reported on Thursday.


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