Parts and accessories for industrial, aerospace and defense applications are among the hottest technology trends of the 21st century.
And the companies that manufacture these parts, known as Holtz Industries, are also among the most valuable, with an estimated value of $1.2 trillion.
The company was founded by John Holtz, who founded the company in 1962.
He died in March 2018.
The new GE company, Holtz Industrial Parts, is a spinoff of Holtz Inc., a privately held company.
Its products include parts and accessories that span industries from aircraft to automotive.
The company sells its products to various companies, including General Electric, the United States Air Force, the Department of Homeland Security and other federal agencies.
Holtz Industries has been expanding its manufacturing footprint in recent years, said David McDonough, president and CEO of GE Appliances.
GE Appliance and GE Manufacturing are among its largest suppliers.
The division now makes more than 3,400 parts and accessory items for GE’s brands of vehicles, light-duty refrigerators, jet engines, power tools, solar panels, LED lighting, and air conditioners.
Holtson said the new company is a “big, big, big step” for the company.
It also marks a change in strategy.
“The whole strategy of Holtson Industrial Parts has been to move toward making everything as easy to assemble as possible,” he said.
“We’re making things like the X3 and X4 as easy as possible.”
The company will keep the name but will be renamed GE Appliant Parts.
It is also working on a new name, McDonugh said.
The new name is a more modern and aspirational name that is also a better fit for GE.
The companies said the division will be led by a new CEO.
It will have a staff of about 1,000 people.
The announcement was made at the annual conference of the Holtsons.
Holtsen said the company is also exploring the possibility of expanding into other manufacturing segments.