No coin nor oath required. For personal study only.
Veolia Environnement (VE) intends to sell most of the businesses in its subsidiary USFilter to reduce its US$13 billion debt load. VE will sell USFilter's Consumer & Commercial business and its combined Systems and Services & Products business, but will retain the Operating Services and Engineering & Construction division, which it says is more aligned with its core business of long-term service contracts with municipalities and industries. USFilter's Consumer & Commercial division comprises Culligan and Everpure, which operate in the residential and commercial water treatment sectors and have annual sales of more than US$740 million. The USFilter Systems and Services & Products business is the largest water and wastewater treatment equipment and associated services company in the world, with annual revenues of US$1.2 billion, and an installed base of thousands of installations. "As VE more precisely defined their strategic focus around long-term operating contracts, much of the USFilter business scope fell outside of their definition," said Andy Seidel, CEO of USFilter. Seidel estimates that it could take up to a year to find a buyer. VE, formerly Vivendi Environnement, was spun off from media group Vivendi Universal this year. It acquired USFilter four years ago for almost US$8.5 billion including debt. The sale of the USFilter assets continues efforts to reverse a costly series of acquisitions undertaken by former Vivendi Universal chief Jean-Marie Messier. VE has already raised about 2 billion from the sale of USFilter assets.
๐ SIMILAR VOLUMES
## Lewa makes North American acquisition L ewa is expanding in North America with the acquisition of Houston, Texas-based Capital Process Equipment Inc (CPE), a supplier of equipment and systems for chemical metering in offshore oil and gas extraction. "CPE has long-standing experience in this se
Corp has reported record bookings and backlog for the first quarter of 2006. First quarter 2006 bookings of a record US$879 million include a negative currency effect of US$37.5 million and compare with US$686 million excluding divestitures during 2005. Backlog at the end of March 2006 increased 39%