General Electric (NYSE: GE) predicts that the water purification business will be one of three major growth industries in the years ahead, according to a Reuters report.
The U.S. conglomerate has built up its water business in recent years, spending about $4 billion on five acquisitions. And although the unit currently is not a major revenue source, executives believe world-wide water issues will push the sector on par with healthcare and energy.
"What GE tries to do is to align the company with some of the mega-trends, the mega-challenges of the world. Energy is one, healthcare is the other, and the third one is water," Heiner Markhoff, president and chief executive of GE Water & Process Technologies, said.
Read the full report at the link below.
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