Siemens completes USFilter buy for US$993M
On July 31, Siemens A.G. completed its acquisition of USFilter Corp. from the French parent company, Veolia Environnement, of Paris, for $993 million. With annual sales of $1.2 billion, USFilter has 157 locations worldwide and 5,800 employees, including 5,000 in the U.S.
ERLANGEN, NY, Aug. 3, 2004 (Siemens) -- Effective July 31, Siemens A.G. completed its acquisition of USFilter Corp. from the French parent company, Veolia Environnement, of Paris, for $993 million. With annual sales of $1.2 billion, USFilter has 157 locations worldwide and 5,800 employees, including 5,000 in the United States.
The worldwide product, system and service business of USFilter will become part of Siemens Industrial Solutions and Services (I&S) Group as a new "Water Technologies" division. Agreement to acquire the business was announced in May. Headquarters of the company will be Warrendale, PA.
"As one of the world's largest infrastructure service companies, Siemens is well positioned to build on the inherent synergies and technological expertise of both companies and expand USFilter's reach into those countries where we already have a strong presence," said Joergen Ole Haslestad, Siemens I&S group president.
"In the U.S., for example, the move creates new opportunities for cross-selling among existing Siemens and USFilter customers. In Europe, Siemens' share of the market also can increase with specific products and systems from USFilter. In China, Siemens will expand its role in improving the country's infrastructure because it now will have a greater presence in all segments of the water industry. We are confident our customers around the world will benefit from these two organizations joining force."
USFilter is the leading supplier of water and wastewater treatment systems and services for municipalities, industries and institutions in North America. Worldwide, USFilter has 50,000 municipal and 100,000 industrial customers. More than 1,000 patents protect the range of products and solutions that the company has on offer.
"We see this as a significant opportunity for USFilter," says Andy Seidel, CEO of USFilter. "By combining the strength of Siemens' global technology business with USFilter's focus on innovation and our drive to move aggressively into the global markets, we see this acquisition as a new beginning and defining moment for USFilter."
The most recognized brand in its industry, USFilter is ranked the world's number one All-Environmental Firm by Engineering News-Record, and is the United States' number one water treatment technology company according to the Environmental Business Journal.
"Water supply and treatment are critical components to sustaining communities and industry throughout the world," said George Nolen, president and CEO of Siemens Corporation in the U.S. "Siemens is focused on growth. In the U.S., we will leverage USFilter's superior technologies to strengthen Siemens' existing relationships with key industrial and municipal customers. We are proud that our U.S. organization of 65,000 employees will be joined by USFilter's 5,000 employees based here and optimistic about the many opportunities for collaboration and growth as a single company."
The Siemens I&S Group provides services designed to improve competitiveness in processing and manufacturing industries and infrastructure, from consulting and planning through installation, operation, integration of manufacturing execution systems (MES)-solutions, maintenance and modernization. In fiscal 2003 (to Sept. 30) I&S employed a total of 25,000 people worldwide and achieved total sales of EUR 4.012 billion (EUR 1 = US$1.20).
Siemens AG is one of a global electronics and engineering conglomerate with reported worldwide sales of $80.5 billion in fiscal 2003. With its U.S. corporate headquarters in New York City, Siemens has U.S. sales of $16.6 billion and employs 65,000 people. Ten of Siemens' worldwide businesses are based in the United States. Through its global headquarters in Munich, Siemens and its subsidiaries employ 417,000 people in 192 countries.