PRESS RELEASE
USFILTER ANNOUNCES
AGREEMENT TO SELL
ITS SURFACEPREPARATION GROUP BUSINESS
July
23, 2003– United States Filter Corporation (USFilter), a subsidiary of Veolia
Environnement (Paris Bourse: VIE and NYSE: VE), announced today that it has entered into
an agreement to sell its surface preparation business to International Surface Preparation
Corporation, a newly formed company jointly owned by Bard Group, LLC; the GlenRock Group,
LLC; Atlantic Equity Partners III, LP; and Hunt Capital Growth Fund II, LP. The sale of
the surface preparation business completes the company’s previously announced plans
to divest its non-core businesses by the end of 2003.
USFilter’s
surface preparation business manufactures and distributes surface preparation equipment,
parts and consumables on a worldwide basis. Total annual sales in 2002 were
approximately $320 million. The transaction is expected to close during the third
quarter and is subject to normal regulatory approvals and satisfaction of customary
conditions.
Total
proceeds from the disposition of USFilter’s surface preparation businesses, including
the sale earlier this year of its Walther Trowal mass-finishing business, will be
approximately $130 million.
United
States Filter Corporation, a Veolia Environnement company, is North America’s leading
water company providing comprehensive water and wastewater systems and services to
commercial, industrial, municipal and residential customers. Veolia Environnement (Paris
Bourse: VIE and NYSE:VE) is the largest environmental services company in the world with
more than 295,000 employees, including FCC, in about 100 countries and annual revenues of
more than $31.5 billion. Visit the company’s web sites at www.usfilter.com or
www.veoliaenvironnement.com.
Important Disclaimer.Veolia Environnement is a corporation listed on
the NYSE and Euronext Paris. This press release contains “forward-looking
statements” within the meaning of the provisions of the U.S. Private Securities
Litigation Reform Act of 1995. These statements are based on management’s current
expectations or beliefs and are subject to a number of factors and uncertainties that
could cause actual results to differ materially from those described in the
forward-looking statements. These factors and uncertainties include in particular risks
related to customary provisions of divesture transactions as well as those described in
the documents Veolia Environnement has filed with the U.S. Securities and Exchange
Commission. Veolia Environnement does not undertake, nor does it have, any obligation to
provide updates or to revise any forward-looking statements. Investors and security
holders may obtain a free copy of documents filed by Veolia Environnement with the U.S.
Securities and Exchange Commission from Veolia Environnement.
Analyst and institutional investor contact: Nathalie Pinon +33 1 71 75 01 67
US investor contact: Brian Sullivan +(1) 401 737 4100
Press release also available on http://veoliaenvironnement-finance.com
SIGNATURES
Pursuant to
the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Dated: July 23, 2003
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