GE Completes ZENON Environmental Acquisition

Trevose, PA — GE Water & Process Technologies, a unit of General Electric Company, has announced its completion of the ZENON Environmental Inc. acquisition. GE purchased ZENON, a global leader in advanced membranes for water purification, wastewater treatment and water reuse, in an all cash transaction valuing ZENON at approximately US $689 million or Cdn $763 million. Under the terms of the agreement, GE purchased all issued and outstanding Common Shares of ZENON and Non-Voting Class A Shares for Cdn $24.00 per share in cash.

"ZENON joins GE at a time when water quality, water scarcity, and infrastructure challenges around the globe are growing," said David Calhoun, GE Vice Chairman and President & CEO, GE Infrastructure. "With patented technologies that can treat virtually any water source, ZENON is setting the industry standard in providing the lowest life-cycle cost for our customers in one of the fastest growing sectors in water purification and wastewater treatment."

Over its 26-year history, ZENON pioneered the use of ultrafiltration immersed membrane technology for water and wastewater treatment. ZENON membranes have become the technology of choice for water and wastewater plants of all sizes, and their adoption is spreading rapidly throughout the world.

"GE's world-class Global Research Centers, a global sales team with deep domain knowledge, expertise in services, a strong global presence, and expertise in financing projects of varying complexity, and ZENON's talented people and technologies make it a great strategic match," said Jeff Garwood, President and CEO, GE Water & Process Technologies. "We look forward to serving customers around the globe with safer drinking water and exceptional wastewater treatments that turn wastewater into a valuable asset with exceptional life cycle cost reduction."

ZENON's advanced hollow fiber membrane technology provides solutions for numerous water and wastewater treatment applications including membrane bioreactor (MBR), tertiary water filtration, drinking water treatment, industrial process water and water reuse. ZENON has an extensive patent portfolio that will enhance GE's current water scarcity platform by providing pre-treatment technology for reverse osmosis desalination and water reuse. ZENON's technology in municipal water and wastewater treatment will enhance GE's presence with advanced technology products in this large global industry. ZENON's technologies also will help GE provide the best life cycle cost reduction for customers in long-term service agreements.

SOURCE: GE Water & Process Technologies