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GE to sell Water and Process Technologies business
GE has confirmed that it is exploring options to sell its Water and Process Technologies unit.
"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," the company said.
The news follows GE's announcement that it proposes to combine its Oil & Gas business with Baker Hughes, the oilfield services group.
The group aims to complete the sale of the water business by mid-2017, and says that it will operate as usual in the interim.
"The Water and Process Technologies business is recognised 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. The business is strong and will continue to be set up for future success," said Heiner Markhoff, CEO and president GE Power, Water & Distributed Power.
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