OTHER NEWS - Oct. 11, 1995
<i> Times Staff and Wire Reports</i>
GE Buys Part of Daimler-Benz Unit: Stuttgart, Germany-based Daimler-Benz did not disclose what General Electric Co. paid for the portion of the troubled electronics subsidiary. Fairfield, Conn.-based GE bought 100% of AEG’s low-voltage electrical components activities. AEG, Germany’s second-largest electronics group, has sold or closed many of its components that had been operating at losses in the past four years. Daimler considers what GE is buying a “nonessential” operation, one that contributed $225.3 million to AEG’s total 1994 sales of $7.25 billion. That AEG division employs 1,800 people in its three Germany-based factories.
