GE unit to acquire Zenon Environmental
OAKVILLE, ONT-GE Water and Process Technologies, a unit of General Electric, and Zenon Environmental have signed an agreement through which GE will acquire Zenon for a purchase price of $760 million ($656 million U.S.)). The plan of arrangement for the acquisition is subject to regulatory and shareholder approval. Over its 26-year history, Zenon (www.zenon.com) has become a world leader in advanced membrane technologies for water purification and water/wastewater treatment, pioneering the use of ultrafiltration systems for industrial and municipal water and wastewater treatment. Company chairman and CEO Andrew Benedek said the alignment with GE's strong global network and services expertise will open new market opportunities for Zenon's ultrafiltration technology. In turn, Zenon's extensive patent portfolio will enhance GE's presence in the high-growth municipal water treatment sector and will contribute significantly to its ability to help clients address water scarcity problems, providing pre-treatment technology for reverse osmosis desalination and re-use. GE Water and Process Technologies addresses requirements for industrial, agricultural and potable water by providing desalination, advanced membrane and separation systems, as well as water re-use and wastewater management and process technologies. In Canada, GE has 15 major manufacturing facilities and more than 150 sales and service locations More information is available on-line at www.gewater.com.