SUEZ finalizes the acquisition of GE Water & Process Technologies
SUEZ has announced that, together with Caisse de dépôt et placement du Québec, it has completed the acquisition of former GE Water & Process Technologies (GE Water) in an all−cash transaction, effective 30 September 2017.
In connection with completion, SUEZ has set up a Business Unit, 'Water Technologies & Solutions', placed under the leadership of Heiner Markhoff − former President and CEO of GE Water. Mr. Markhoff joins SUEZ Group’s Executive Committee. This new BU combines both the acquired business and SUEZ' own industrial service activities.
SUEZ Water Technologies & Solutions will operate with over 10,000 employees and address the needs of over 50,000 customers worldwide. Additionally, relying on 650 R&D and expert staff as well as 17 Research & Excellence Centers of SUEZ, the business unit says its commitment is to expanding its water treatment offerings and digital capabilities to deliver best-in-class solutions.
This operation secures SUEZ’s global position in industrial water services and strengthens its positioning as an integrated group providing services, addressing over 450,000 industrial and business customers worldwide. At the same time, it builds on its international footprint, especially in the United States.
SUEZ will provide further details on SUEZ Water Technologies & Solutions’ business and present its strategy in the industrial water markets during a separate dedicated meeting to take place on 13 December 2017.