In a press conference Nov. 19, Chicago Mayor Rahm Emanuel announced the city of Chicago will file a ‘Notice of Intent’ to sue U.S. Steel...
Paris, March 21, 2001 ? Suez, a world leader in energy, water, waste management and communication services, has created ONDEO. The move represents the formation of a comprehensive water solutions group, as well as a key step of an aggressive growth strategy to increase revenues 60 percent between 1999 and 2004.
With annual revenues of 9.1 billion euros in 2000 ($8.5 billion), 60,000 employees and a presence in 130 countries, ONDEO offers a full range of solutions to meet the water-related needs of cities, consumers and industries. To expand its already leading market share, ONDEO is implementing a growth strategy focusing on both internal and external opportunities.
Suez has united its existing water activities (as well as a newly established company that provides industrial water solutions) under a single global brand. ONDEO?s water solutions organization consists of the following companies:
No layoffs are expected as a result of the creation of ONDEO.
Gérard Mestrallet, Chairman and CEO of Suez said, "The creation of ONDEO, one of Suez?s core businesses, is a major milestone in our history. We are creating today the world?s premier water solutions group whose scale, global reach, and financial resources are without equal."
"In ONDEO, we have created a group possessing the expertise, financial resources and research and development capabilities required to provide customized solutions to our millions of customers worldwide. We expect ONDEO to dramatically increase its market share in the fast-growing water services industry," Gérard Payen, Chairman and CEO of said.
Activities benefiting cities and the consumer markets represent 64 percent of ONDEO?s worldwide revenues. Today, only 5 percent of the population benefits from private sector water and wastewater services. According to the Global Water Partnership, "Framework for Action," an estimated $180 billion investment per year between 2000 and 2025 will be necessary to develop water services in developing nations, twice the current annual spending. In the United States alone, an estimated $14 billion annual investment will be necessary to upgrade infrastructure and meet even stricter regulations.