FAIRFIELD, CT — General Electric Co. will acquire Zenon Environmental Inc., a water treatment equipment maker in Canada, for $656 million, according to an Associated Press (AP) article featured in the Boston Globe.
The acquisition will help GE's Water and Process Technologies unit expand its growing water treatment business, the article said.
Zenon's advanced membrane technologies will allow GE to help customers address water scarcity issues and expand GE's role in the high-growth areas of the municipal water segment, the article said.
The transaction will require the approval of regulators and Zenon's shareholders, the article said.
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