GE Unit Makes First European Water Investment, in Global Growth Drive.BOULOGNE, France & STAMFORD, Conn. -- GE Energy Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , a unit of General Electric (NYSE NYSE See: New York Stock Exchange :GE), announced today that it is entering the European water market and expanding into industrial water treatment by buying a majority of the assets of Idex AQUASERVICES in France. GE Energy Financial Services is acquiring a 95 percent stake, including debt obligations, from Idex AQUASERVICES -- a developer, owner and operator of facilities that purify Purify - A debugging tool from Pure Software. water for the food, beverage and cosmetics industries. Financial details of the transaction were not disclosed. The investment is the first for GE Energy Financial Services' water team outside the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and its first in the burgeoning market for industrial water treatment, comprising an estimated one-third of all water assets worldwide. Idex AQUASERVICES, a Boulogne-based subsidiary of IDEX Groupe -- one of France's largest private energy and environmental services The various combinations of scientific, technical, and advisory activities (including modification processes, i.e., the influence of manmade and natural factors) required to acquire, produce, and supply information on the past, present, and future states of space, atmospheric, companies -- owns and operates contracted, integrated groundwater extraction and treatment plants for the dairy, meat, poultry, soft drinks, food processing Food processing is the set of methods and techniques used to transform raw ingredients into food for consumption by humans or animals. The food processing industry utilises these processes. , canned food canned food food sterilized by heat in a closed, durable container such as tin and aluminum cans, flexible aluminum foil and thermoplastic containers including squeeze tubes. Technically, the processes used are highly efficient and used universally. and cosmetics industries. UNESCO UNESCO: see United Nations Educational, Scientific, and Cultural Organization. UNESCO in full United Nations Educational, Scientific and Cultural Organization estimates that the food and agriculture sectors consume 100 times more water than individuals, illustrating the critical role of industrial water treatment operators such as Idex AQUASERVICES. "Reinforcing GE's broader involvement in the water industry, this transaction expands our investment focus into industrial water and Europe," said Alex Urquhart, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of GE Energy Financial Services. Kevin McCarthy Kevin McCarthy may refer to any of the following individuals:
Alain Planchot, CEO of IDEX Groupe, added: "We decided to partner with GE Energy Financial Services because of its keen understanding of the dynamics of the global water business, its commitment to the sector, and its ability to provide our water platform the capital needed to grow. This transaction enables IDEX Groupe to raise capital for, and focus on, our core operations business -- including operations and maintenance of water facilities -- while providing GE Energy Financial Services with an opportunity to expand in a growing market." GE Energy Financial Services' water team offers structured equity capital and customized debt finance for existing assets and projects under development in the commercial, industrial and municipal infrastructure water, reuse and wastewater treatment markets worldwide. The Idex AQUASERVICES transaction represents the second equity investment for the GE Energy Financial Services water team. In July 2006, the water team announced it had invested US $18 million in the Cauley Creek Reclamation Facility, a state-of-the-art wastewater reclamation plant in the US state of Georgia. The transaction involving Idex AQUASERVICES is subject to customary closing conditions. About GE Energy Financial Services GE Energy Financial Services' 300 experts invest globally with a long-term view, across the capital spectrum and the energy and water industries, to help their customers and GE grow. With $13 billion in assets, GE Energy Financial Services, based in Stamford, Connecticut Stamford is a city in Fairfield County, Connecticut, United States. According to 2006 Census Bureau estimates, the population of the city is 119,261, making it the fourth largest city in the state. , invests more than $5 billion annually in two of the world's most capital-intensive industries, energy and water. More information: www.geenergyfinancialservices.com. About GE GE (NYSE: GE) is a diversified technology and services company dedicated to creating products that make life better. From aircraft engines and power generation to financial services, medical imaging, television programming and plastics, GE operates in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at http://www.ge.com. |
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