Siemens is expanding its activities in the global water supply and treatment industry with its acquisition of US Filter Corporation from the French parent company Veolia Environnement in Paris for US$ 993 million. Siemens' Industrial Solutions and Services Group (I&S) maintains lead management for water-related business and will also organisationally lead US Filter activities.
I&S Group President Joergen Ole Haslestad said: "This acquisition is an important step in the framework of strengthening our Group portfolio. The growing water business will play a critical role within our industrial activities at Siemens. With it, we will be able to expand our product and service offerings for our customers, in particular, within the world's largest water market, the USA."
With headquarters in Palm Desert, California, US Filter employs some 5,800 people in 120 locations around the world and reports annual sales of some US$ 1.2 billion.
