Mar 17, 2008

General Electric and Eureka Forbes Create Clean Water Joint Venture

Infinite Water Solutions will build India’s largest residential water purification membrane manufacturing facility in Dehradun

GE Water & Process Technologies and Eureka Forbes, Ltd., a subsidiary of the Shapoorji Pallonji Group, recently announced the formation of Infinite Water Solutions Pvt Ltd., a joint venture focused on bringing safe, reliable and affordable water solutions to the Indian residential market.

Infinite Water Solutions will begin manufacturing GE’s reverse osmosis membranes at Aquamall’s new environmentally friendly manufacturing facility in Dehradun. The joint venture will manufacture and sell products and technology solutions to Indian residential customers through Eureka Forbes’ extensive sales network, the largest direct sales network in Asia.

“This is an exciting opportunity,” said Suresh Goklaney, vice chairman and managing director of Eureka Forbes, Ltd. “The joint venture will place Eureka Forbes in close relationship with GE, leveraging the complementary skills of both our organizations to create a powerful presence in the Indian residential market,” he said.

“GE and Eureka Forbes share a passion to improve water quality for consumers in India,” said Jeff Garwood, president and CEO of GE Water & Process Technologies. “We are excited about working with a market leader like Eureka Forbes to help improve the water quality for Indian consumers. GE has an unmatched portfolio of water treatment products and services. Our proprietary membrane technology, combined with Eureka Forbes’ reach and the joint local manufacturing facility, will give consumers rapid access to the best water treatment solutions in India.”

“Our state-of-the-art Dehradun facility will be the largest manufacturing facility of these high-tech membranes in India. The facility will also be capable of serving other water purification companies across the region,” said Pratyush Kumar, chairman, Infinite Water Solutions Pvt., Ltd.

Clean, potable water is urgently needed in India, where industrialization and the rapidly expanding urban population of 400 million are placing unprecedented demands on the nation’s dwindling water supply. Infinite Water Solutions will bring safe, reliable and affordable water solutions to India to meet those demands.

“GE and Eureka Forbes are also exploring other opportunities to jointly serve customers, especially in market segments where the Shapoorji Pallonji group has significant presence,” Goklaney said.