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.”
Microwaves Could be as Bad for the Environment as CarsNews
Microwaves usage across the EU alone emits as much carbon dioxide as nearly seven million cars according to a new study. Researchers have carried out the first ever comprehensive study of the environmental impacts of microwaves, considering their whole life cycle, from ‘cradle to grave’.READ MORE
Nitrogen Pollution Helps Sugar Maples but a Warmer, Drier Climate May Threaten ThemNews
Though Michigan's sugar maples benefit from the growth-promoting effects of nitrogen compounds in the environment, those gains will not fully offset the added stresses of growing under a drier climate in the future, according to a new study.READ MORE