The all-cash transaction was for the equivalent of $3.4 billion
SUEZ has announced that together with Caisse de dépôt et placement du Québec (CDPQ), it has completed the acquisition of former GE Water & Process Technologies (GE Water) for 3.2 billion euros, or $3.4 billion, in an all‐cash transaction, effective Sept. 30.
In connection with completion, SUEZ set up a business unit called “Water Technologies & Solutions” placed under the leadership of Heiner Markhoff, former President and CEO of GE Water.
Markhoff joins SUEZ Group’s executive committee. This new business unit combines both the acquired business and other SUEZ-owned industrial service activities. It will offer a value proposition to the shareholders, including the expected commercial, operational and technical synergies.
SUEZ Water Technologies & Solutions will operate with more than 10,000 employees and address the needs of over 50,000 customers worldwide. Additionally, relying on 650 research and development and expert staff as well as 17 Research & Excellence Centers of SUEZ, the business unit is committed to expanding its water treatment offerings and digital capabilities to deliver best-in-class solutions.
This operation secures SUEZ’s global leadership in industrial water services and strengthens its positioning as an integrated group providing services, addressing more than 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 business and present its strategy in the industrial water markets during a separate dedicated meeting to take place Dec. 13.
“I am thrilled to welcome GE Water & Process Technologies’ teams and know-how,” says Jean-Louis Chassade, CEO 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.”
Contracts and technology
SUEZ also announced several contracts and launched innovative water treatment technology at WEFTEC in Chicago.
SUEZ will bring leading-edge technologies to large industrial players like BP and Louisville Gas and Electric Company (LG&E) and Kentucky Utilities (KU) to help them improve their environmental performance, meet their business and flow needs and comply with regulations.
SUEZ was awarded the contract to supply a wastewater treatment system for BP’s Tangguh Liquefied Natural Gas (LNG) plant in West Papua, Province of Indonesia. The wastewater treatment system aims to treat 600,000 liters per day of effluents produced by a new LNG process line at Tangguh LNG plant.
It will process high salinity peak and incorporate innovative water treatment technologies to remove free and emulsified oil, Chemical Oxygen Demand (COD), Biochemical Oxygen Demand (BOC) and nondissolved solids. The Tangguh Expansion Project will play an important role in supporting Indonesia’s growing energy demand, with 75 percent of the annual LNG production of this new line sold to the Indonesian state electricity company, PT PLN.
SUEZ also will design and supply wastewater treatment systems for LG&E and KU at their coal-fired power stations near Louisville, Kentucky.
These systems will treat flue gas desulfurization wastewater produced by the power stations. They have an anticipated startup date in 2019. LG&E serves 324,000 natural gas and 407,000 electric customers in Louisville and 16 surrounding counties. KU serves 549,000 customers in 77 Kentucky counties and five counties in Virginia.
SUEZ also launches new innovative technologies to address its industrial clients’ challenges by optimizing water treatment and reducing energy consumption. The group launched products called Ozonia, the FiltraFast solution, Sievers InnovOx ES Laboratory TOC Analyzer, and ZeeWeed 500D membrane technology.