GE looks to sell its Water & Process Technologies business
Following the announcement of a proposed combination of GE’s Oil & Gas business with Baker Hughes, GE has confirmed it is exploring options for selling the Water & Process Technologies business.
TREVOSE, PA, OCTOBER 31, 2016 -- Following the announcement of a proposed combination of GE’s Oil & Gas business with Baker Hughes, GE has confirmed it is exploring options for selling the Water & Process Technologies business.
The plan to divest the water business is a strategic decision that provides an opportunity to reposition the business for growth and further invest for long-term success.
GE Water & Process Technologies will operate business as usual through this process and will continue to meet its commitments to its valued customers and employees. GE is targeting to complete the sale of the Water business by mid-2017.
"The Water & Process Technologies business is recognized as a leader in the industry for our portfolio, products, and services, and especially for our people and their deep domain expertise. This platform that we have built has positioned us for success by driving customer efficiency, promoting global sustainability and innovating for a smart water future," said Heiner Markhoff, CEO and President GE Power, Water & Distributed Power. "The business is strong and will continue to be set up for future success."