Veolia Closes Acquisition of Chemours' Sulfur Product Assets

Regulatory News:

Veolia (Paris:VIE) has closed the acquisition of Chemours’ Sulfur Products division assets, announced last June. Chemours Sulfur Products Division is a specialist in the recovery of sulfuric acid and gases of the refining process, which are regenerated into clean acid and steam used in wide range of industrial activities. With this operation, Veolia strengthens the asset base of its Industrial regeneration business in the Oil and Gas industry in the United States.

"Chemours Sulfur Products division is an excellent complement to Veolia existing business, notably in North America, and will reinforce our recovery and regeneration capabilities. As a leader in hazardous waste management as well as resource recovery, we look forward to developing this business”, said Veolia Chairman and Chief Executive Officer Antoine Frérot. "We are thrilled to welcome the employees and seven operating sites into our North American business”, added Veolia North America CEO William J. "Bill” DiCroce.

This purchase provides Veolia with a highly differentiated services offering to allow it to move up the value chain with existing refinery customers, along with an opportunity to cross-sell its existing offerings to a new customer base. It also presents growth opportunities within the refinery services sector, and it positions Veolia to capture future demand for clean gasoline related products.

...

Veolia group is the global leader in optimized resource management. With over 174 000 employees worldwide, the Group designs and provides water, waste and energy management solutions that contribute to the sustainable development of communities and industries. Through its three complementary business activities, Veolia helps to develop access to resources, preserve available resources, and to replenish them. In 2015, the Veolia group supplied 100 million people with drinking water and 63 million people with wastewater service, produced 63 million megawatt hours of energy and converted 42.9 million metric tons of waste into new materials and energy. Veolia Environnement (listed on Paris Euronext: VIE) recorded consolidated revenue of €25 billion ($27.2 billion) in 2015. www.veolia.com

View source version on businesswire.com: http://www.businesswire.com/news/home/20160731005022/en/