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press release : Paris, February 14, 2002
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Vivendi Environnement announces agreement to sell Filtration and Separations Group business
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USFilter, a subsidiary of Vivendi Environnement (Euronext: VIE and NYSE: VE) announced that it has entered into an agreement to sell its Filtration and Separations Group (FSG) business to Pall Corporation, East Hills, N.Y., for a total cash consideration of $360 million.
FSG specializes in industrial separations technology including membrane media, consumable cartridges, screening technology, and custom process equipment. Total annual sales are approximately $270 million.
The sale furthers Vivendi Environnement's announced strategy to divest non-core assets, and focus on its core environmental and water-wastewater businesses.
Including the disposal of the Johnson Screens business in late 2001, the total amount of the FSG divestiture is approximately $500 million.
The transaction is expected to be completed by the end of March, and is subject only to normal regulatory approvals.
USFilter, Palm Desert, Calif., is North America's largest water company providing comprehensive water and wastewater systems and services to commercial, industrial, municipal and residential customers. Vivendi Environnement, comprised of Vivendi Water (worldwide water products and services), Onyx (solid waste and industrial services), Dalkia (energy services), Connex (transportation) and FCC (Spanish company engaged in environmental and construction related industries), is the largest environmental services company in the world. Visit the company's web sites at www.usfilter.com or www.vivendienvironnement-finance.com.
Disclaimer
This press release contains "forward-looking statements" as that term is defined in the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements are not guarantees of future performance. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside our control, including but not limited to: that Vivendi Environnement will face increased competition and that the effect on pricing, spending, third-party relationships and revenues of such competition will limit or reduce revenue and/or income; that Vivendi Environnement will be unable to obtain or retain, upon acceptable terms, the licenses and permits necessary to complete the intended transaction; as well as the risks described in the documents Vivendi Environnement has filed with the U.S. Securities and Exchange Commission. Vivendi Environnement does not undertake, nor does it have any obligation, to provide updates or to revise any forward-looking statements. Investors and security holders may obtain a free copy of documents filed by Vivendi Environnement with the U.S. Securities and Exchange Commission at www.sec.gov or directly from Vivendi Environnement.
Press Contacts
Anne Froger, Vivendi Water + 33 1 49 24 31 18
Anne Monteil, Image 7 + 33 1 01 71 75 01 97
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