GE and Pall Form New Global Strategic Alliance To Provide Innovative Water Solutions
TREVOSE, Pa. & EAST HILLS, N.Y.--(BUSINESS WIRE)--June 13, 2005--GE Infrastructure, Water & Process Technologies, a unit of General Electric Company (NYSE:GE), and Pall Corporation (NYSE:PLL) today announced an expansion of their strategic alliance to bring innovative water technologies to the global marketplace. The companies will combine their advanced membrane technologies and separation solutions to cover more applications and markets, including desalination, water reuse and municipal water. This extensive range of technologies and services will focus on meeting the world's rapidly increasing demand for clean water for drinking, irrigation and industrial uses.
"As the population grows and water scarcity increases, so does the world's need for clean water," said George Oliver, CEO, GE Infrastructure, Water & Process Technologies. "This strategic alliance enhances our ability to answer the world's most pressing water needs with energy-efficient, cost-effective, customized solutions."
Building upon a January 2004 agreement -- which integrated GE's advanced design reverse osmosis/nanofiltration systems and services with Pall's high performance microfiltration/ultrafiltration technologies -- the new alliance paves the way for collaboration on the development and sale of proprietary technologies focused on bringing innovative water technology solutions to the world.
"We are very excited about the prospects of this enhanced alliance," said Don Stevens, Chief Operating Officer, Pall Corporation. "Its expanded scope not only creates more opportunity in the industrial markets but also allows our companies to jointly develop and deploy advanced membrane, filtration, and separation technologies for the very large and growing municipal, water reuse, and desalination markets."
The alliance draws upon GE and Pall's complementary strengths in materials development, applications and process engineering; as well as a broad array of filtration and separation products and services. It will allow customers in the industrial, municipal and desalination marketplace to reduce energy use and costs while increasing efficiency in the production of pure water.
About GE Infrastructure, Water & Process Technologies
GE Infrastructure, Water & Process Technologies, a unit of General Electric Company, is an industry leader in solving the world's most pressing water reuse, industrial, irrigation, municipal, and drinking water needs. Through desalination, advanced membrane, separation solutions, and water reuse and wastewater management and process technologies, GE delivers added value to its customers. By improving performance and product quality, reducing operating costs, and extending equipment life through a broad range of products and services designed to optimize total performance; safeguard customers' assets; prevent fouling and scaling; and safeguard the environment through water conservation and energy reduction. For more information on GE Infrastructure, Water & Process Technologies, visit www.gewater.com.
Caution Concerning Forward-Looking Statements
This document contains "forward-looking statements" - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, particular uncertainties arise from the behavior of financial markets, including fluctuations in interest rates and commodity prices, from future integration of acquired businesses, from future financial performance of companies in the airline industry, from unanticipated loss development in our insurance businesses, from future consequences of possible terrorist acts, and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. We do not undertake to update these forward-looking statements.
About Pall Corporation
Pall Corporation is the global leader in the rapidly growing field of filtration, separations and purification. Pall's business is organized around two broad markets: Life Sciences and Industrial. The Company provides leading-edge products to meet the demanding needs of customers in biotechnology, pharmaceuticals, transfusion medicine, semiconductors, water purification, aerospace and broad industrial markets. Total revenues for fiscal 2004 were $1.8 billion. The Company headquarters are in East Hills, New York with extensive operations throughout the world. Visit Pall at www.pall.com.
Forward Looking Statements
This release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on current Company expectations and are subject to risks and uncertainties which could cause actual results to differ materially. Such risks and uncertainties include, but are not limited to: fluctuations in foreign currency exchange rates; regulatory approval and market acceptance of new technologies; changes in product mix and product pricing and in interest rates and cost of raw materials; the Company's success in enforcing its patents and protecting its proprietary products and manufacturing techniques and its ability to achieve the savings anticipated from its cost reduction initiatives; global and regional economic conditions and legislative, regulatory and political developments; and domestic and international competition in the Company's global markets. Additional information regarding these and other factors is available on the Web at www.pall.com and is included in the Company's reports filed with the U.S. Securities and Exchange Commission. Copies of such reports can be obtained, without charge, at www.sec.gov.
Management uses certain non-GAAP measurements to assess Pall's current and future financial performance. The non-GAAP measurements do not replace the presentation of Pall's GAAP financial results. These measurements provide supplemental information to assist management in analyzing Pall's financial position and results of operations. Pall has chosen to provide this information to facilitate meaningful comparisons of past, present and future operating results and as a means to emphasize the results of on-going operations.
GE Infrastructure, Water & Process Technologies
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