VE writes off €2.6 billion
- From: Vol 3, Issue 3 (March 2002)
- Category: Companies
- Region: Americas
- Country: United States
- Related Companies: Bristol Water Holdings, Ecofin, Mid Kent Water, US Filter and Veolia Environnement (formerly Vivendi Environnement)
The weakening of the US economy has obliged Vivendi Environnement (VE) to increase support for its water treatment and management subsidiary US Filter.
The French group reported a net loss of €2.25 billion in 2001 following a decision to write down the value of its US water sector assets by €2.61 billion.
US Filter was acquired by Vivendi in 1999 for $6.2 billion. The company specialises in the marketing of water treatment and filtration equipment to industrial and municipal clients ...
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