General Electric says it plans to sell or spin-off its century-old appliance business.

The Fairfield, Conn., industrial conglomerate said Friday the move is part of an ongoing plan to exit “slower growth and more volatile businesses.”

General Electric Co. says it will start a strategic review that will result in an outright sale, a strategic partnership or a spin-off to shareholders.

The company says the Louisville, Ky.-based business, which makes refrigerators, air conditioners and ovens, generates most of its revenue in the U.S., leaving its results dependent on “the rise and fall of a single market.”