SUEZ Aquires GE Water
SUEZ announced that, together with Caisse de dépôt et placement du Québec (“CDPQ”), it has entered into a binding agreement to purchase GE Water & Process Technologies (“GE Water”) from General Electric Company for €3.2Bn1 enterprise value in an all‐cash transaction.
GE Water is a worldwide systems and services provider for industrial clients, supplying water, waste‐water and process systems solutions to blue‐chip customers. GE Water generated ~$2.1Bn revenues in 2016 with 7,500 salesmen and engineers with strong digital capabilities.
The transaction, unanimously approved by the Board of SUEZ, combines two complementary players, covering the entire value chain making SUEZ a leader in water resource management. It enhances long term profitable growth, and offers an unparalleled value proposition to SUEZ shareholders.
Jean‐Louis Chaussade, CEO of SUEZ, said: “I am very proud to announce the acquisition of GE Water, which will accelerate the implementation of SUEZ’ strategy by strengthening its position in the promising and fast‐growing industrial water market. This combination will create further value for both our employees, clients and shareholders.”
“Clients will benefit from the combined knowledge, expertise, geographic footprint and leading edge products and services available. The transaction will also deliver strong value to our shareholders by enhancing SUEZ’ profitable growth profile. I look forward to integrating GE Water’s highly skilled staff to our teams to form an unparalleled industrial water platform. We are also thrilled to join forces with CDPQ, which shares our long term vision for our business.”
Poisonings went Hand in Hand with the Drinking Water in PompeiiNews
Analyses of a water pipe from Pompeii suggest that drinking water in the pipelines was probably poisoned on a scale that may have led to daily problems with vomiting, diarrhoea, and liver and kidney damage.READ MORE
GC Reveals the Risks Posed by Common Water Pipe Repair MethodNews
New research is calling for immediate safeguards and the study of a widely used method for repairing sewer-, storm-water and drinking-water pipes to understand the potential health and environmental concerns for workers and the public.READ MORE