PALM DESERT, Calif., Nov. 22, 2002 -- USFilter has completed the sale of its waterworks distribution business to National Waterworks Inc. for a cash purchase price of $620 million.
The sale furthers USFilter's announced strategy to divest non-core assets and focus on growth opportunities within USFilter's expanding business base of water-wastewater equipment and services, and consumer and commercial businesses.
The waterworks distribution business distributes third-party water infrastructure hardware items such as pipes, hydrants, valves and meters through more than 140 sales and service centers in the United States. Total annual sales in 2001 were approximately $1.1 billion. Agreement to sell the business was publicly announced in September.
The sale of the business brings Vivendi Environnement's year-to-date proceeds from the divestiture of non-core assets to approximately $1.3 billion -- in line with the company's target for 2002. The divestitures have allowed USFilter to focus more intensely on the fast-growing North American water infrastructure management, operations and technology segments -- where it maintains industry leadership.
United States Filter Corporation, a Vivendi Environnement company, is North America's largest water company providing comprehensive water and wastewater systems and services to commercial, industrial, municipal and residential customers.
Vivendi Environnement (Euronext Paris:VIE) (NYSE:VE - News), comprised of Vivendi Water (worldwide water products and services), Onyx (solid waste and industrial services), Dalkia (energy management), Connex (transportation and logistics) and FCC (Spanish company engaged in environmental and construction related industries), is the largest environmental services company in the world with more than 295,000 employees, including FCC, in about 100 countries and annual revenues of more than $25.6 billion. Visit the company's web sites at www.usfilter.com or www.vivendienvironnement-finance.com.
