BLOOMINGTON, Ind. – General Electric Company (NYSE: GE) is preparing to redesign the product line at its Bloomington refrigerator plant. Bloomington, Indiana newspaper The Herald-Times reports that GE will invest $68 million in the facility. Employees were told about the plans Friday afternoon.

The company aims to redesign its side-by-side refrigerator line in anticipation of possible new federal energy standards in 2014. The Herald-Times also reports the new line will also include “smart grid” technology.

The announcement caps a turnaround for the plant. GE had stated in 2008 the Monroe County facility would be closed. The closure was scheduled to be competed by the end of 2010. In January, the company decided to keep it open, but did not say for how long. A statement at the time from the plant manager indicated government legislation to provide tax credit for energy efficient appliance production allowed the company to reevaluate the feasibility of the plant. 

Source: General Electric Company; The Herald-Times

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