LOUISVILLE, Ky. (AP) -- The University of Kentucky has reached an agreement with GE Appliances to collaborate on research aimed at producing innovations in the appliances business.
UK President Eli Capilouto joined GE Appliances executives to announce the collaboration Thursday at GE's Appliance Park in Louisville. It is a unit of General Electric Co.
The agreement sets terms for the licensing and sharing of jointly developed innovations.
GE Appliances Vice President Kevin Nolan says the partnership will allow the company to tap into the technical expertise of UK scientists.
Capilouto calls the agreement a step forward for Kentucky's economic development.
UK and GE will collaborate on projects to make GE appliances more functional and durable. Another focus will be looking for new manufacturing technologies and practices.
GE Appliances' products include refrigerators, freezers, cooking products, dishwashers, washers, dryers and water heaters.
- Consumer Discretionary