General Electric Company (GE) 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 customers.
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 CLARCOR Inc (CLC), Icahn Enterprises, L.P. (IEP) and Noble Group Limited (NOBGY), each carrying a Zacks Rank #1 (Strong Buy).
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