Sale of GE's Appliance Park expected to be finalized Monday

LOUISVILLE, Ky. (WDRB) -- It's the start of a new era at GE Appliances. The sale to the Chinese company, Haier, is now final.

The announcement came Monday afternoon. The $5.4 billion sale is complete. GE Appliances, and it's 6,000 employees, are now, officially, a division of Haier.

"I'm excited about being a part of a company that loves appliances -- a company that shares our goal to become the most competitive, innovative, and customer-focused company in the world," said Chip Blankenship, GE Appliances President and CEO.

The signs around Appliance Park have already been changed to reflect the new ownership. The GE brand will remain.

General Electric opened Appliance Park in 1953, and it has become part of the city's fabric. Haier promises to keep the headquarters and the leadership team in Louisville.

The president of Appliance Park's union says this is a historic moment. He says he is confident that Haier will add jobs, and have a good relationship with the labor force.

"They'll be driving us hard, and we will accept the challenge," said Dana Crittendon, spokesperson for IUE-CWA, LOCAL 83761. "At the end of the day, we look at Appliance Park being here for not only current employees, but our children and grandchildren. And that's what we need here in the city of Louisville."

The sale to Haier comes after the Justice Department filed suit to stop the sale of Appliance Park to the Swedish company, Electrolux. GE canceled that deal in December and soon after announced the sale to Haier.

The federal government gave the green light in March.

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