SUEZ finalizes acquisition of GE Water & Process Technologies
Former president and CEO of GE Water to lead new business unit
SUEZ has announced that it has completed the acquisition of GE Water & Process Technologies.
The all-cash acquisition, valued at almost $3.8 billion, is effective as of Sept. 30, 2017. SUEZ has established a new business unit, Water Technologies & Solutions, which will be led by Heiner Markhoff, the former president and CEO of GE Water.
“I am thrilled to welcome GE Water & Process Technologies’ teams and know-how,” says Jean-Louis Chaussade ,Chief Executive Officer of SUEZ. “This is an exciting moment for SUEZ, as our Group now has an ever-stronger knowledge and skillset to bring innovation and enhanced value to industrial and municipal customers around the world. With over 90,000 employees working across the entire water and waste value chain, we will help address pressing global challenges such as water scarcity, resources preservation, and climate change.”
SUEZ Water & Technologies will combine GE Water and SUEZ’s existing industrial service activities. It will have more than 10,000 employees and more than 50,000 customers worldwide.