General Electric Company
) and WIBAX Energy AB a Swedish company, part of the WIBAX Group,
recently formed a strategic alliance for distribution of water
treatment products in the Nordic region for an undisclosed amount.
This distribution agreement will cover various regions of Denmark,
Sweden, Norway and Finland.
WIBAX is a technology specialist company serving a diverse range
of chemical products and services, bio-based fuels, chemical
cleaning systems and provides maintenance and complete logistic
solutions for safe delivery of chemicals.
This strategic alliance is a win-win situation for both the
companies. It combines WIBAX's local expertise with GE's superior
technologies to create greater access to innovative water and
process solutions in the Nordic region. As per this alliance, both
companies will provide the best possible water solutions to the
The strategic move by WIBAX to form an alliance with General
Electric is to expand its product offerings to diverse industries
and locations, open up new industries and new products, which are
expected to be complementary to the existing WIBAX portfolio.
Technology has changed the way people conduct business and
consequently, there is scope for increasing efficiencies and
lowering costs by improvising these functions. This alliance seeks
to do that by combining General Electric's innovative technologies
with Wibax's customer base and help them to address customer
challenges, minimize costs and cater to the customer needs in a
much more effective manner. Also WIBAX's strategically located
terminals, local laboratory, offices in key cities and logistic
warehouse further help to bring the best practices and solutions in
the Nordic region.
General Electric is one of the most diversified technologies and
financial service corporations in the world. Its segments include
Power & Water, Oil & Gas, Energy Management, Aviation,
Healthcare, Transportation, Home & Business Solutions, and GE
Capital. GE Power & Water produces gas, steam and aero
derivative turbines; generators; combined cycle systems; and
renewable energy solutions, as well as provides water treatment
services and equipments.
General Electric currently has a Zacks Rank #3 (Hold). Other
stocks that look promising and are worth a look now include
Icahn Enterprises, L.P.
Noble Group Limited
), each carrying a Zacks Rank #1 (Strong Buy).
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