General Electric Co. (GE) and Ford Motor Co. (F) said Tuesday they were collaborating to make ventilators, while Ford and 3M Co. (MMM) said they are working together on ways to make personal protective equipment (PPE) and boost the production of 3M's powered air purifying respirators (PAPR), to meet increased demand as a result of the COVID-19 pandemic. Ford is providing technical and production expertise in an effort to make a simplified design of GE Healthcare's existing ventilator, and is providng engineers, designers and facilities to help 3M boost PAPR production using common parts. "We are encouraged by how quickly companies from across industries have mobilized to help address the growing challenge we collectively face from COVID-19," said GE Healthcare Chief Executive Kieran Murphy. Shares of GE rose 6.2% in premarket trading, while Ford's stock jumped 6.5% and 3M shares gained 4.7%. Futures for the Dow Jones Industrial Average were limit up 5%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
March 24, 2020 07:46 ET (11:46 GMT)
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