Strategic $993 Million Acquisition in the Growing Water Market
NEW YORK, Aug. 3 /PRNewswire-FirstCall/ -- Siemens today completed its
acquisition of USFilter Corporation from the French parent company, Veolia
Environnement, Paris. This $993 million acquisition positions Siemens as the
market leader in the water and wastewater treatment business in North America.
With annual sales of $1.2 billion, USFilter has 157 locations worldwide and
5,800 employees, including 5,000 in the U.S.
(Logo: http://www.newscom.com/cgi-bin/prnh/20021029/SILOGO )
The worldwide product, system and service business of USFilter will become
part of Siemens' $4 billon 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,
Pennsylvania.
"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."
For more information: http://www.siemens.com/usfilter
About Siemens
The Siemens Industrial Solutions and Services Group (I&S) provides
innovative solutions and services designed to improve competitiveness in
processing and manufacturing industries and in infrastructure. Offerings
cover the entire life cycle of industrial and infrastructure facilities, from
consulting and planning through installation, operation, integration of
MES-solutions, maintenance and modernization. In fiscal 2003 (to September
30) I&S employed a total of 25.000 people worldwide and achieved total sales
of EUR 4.012 billion. Further information and downloads:
http://www.is.siemens.de
Siemens AG (NYSE: SI) is one of the largest global electronics and
engineering companies with reported worldwide sales of $80.5 billion in fiscal
2003. Founded more than 150 years ago, the company is a leader in the areas
of Information and Communications, Automation and Control, Power,
Transportation, Medical and Lighting. With its U.S. corporate headquarters in
New York City, Siemens in the USA has sales of $16.6 billion and employs
65,000 people throughout all 50 states and Puerto Rico. Ten of Siemens'
worldwide businesses are based in the United States. With its global
headquarters in Munich, Siemens AG and its subsidiaries employ 417,000 people
in 192 countries. For more information on Siemens in the United States:
http://www.usa.siemens.com
SOURCE Siemens Corporation
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Related links:
http://www.usa.siemens.com
http://www.is.siemens.de http://www.siemens.com/usfilter
Photo Notes:http://www.newscom.com/cgi-bin/prnh/20021029/SILOGO
Company News On-Call:
http://www.prnewswire.com/comp/000728.html
CONTACT:
Paula Davis of Siemens, +1-212-258-4260,
paula.davis@siemens.com; or Karole Colangelo of US Filter,
+1-847-706-6947, colangek@usfilter.com
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