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While I'm chasing value, General Electric (NYSE: GE) is chasing revenue from water projects. It may not amount to much now, but GE is betting it will be huge some day and it has been working towards this goal for many years.
Although GE had estimated 2009 revenue of $2.5 billion from the water business, that is only a meager 1.6% of the $156 billion in worldwide sales generated by its major business divisions that the world's largest maker of jet engines and electricity-producing turbines is expected to generate this year.
WaterPurification posts
FeedChasing Value: GE -- the Exxon of water
GE after the bell 06/02/06: water treatment company purchase, investment in sciences and math
GE ends the day at $34.66, up 11 cents. GE just finished a $689 million dollar acquisition of a new company, ZENON, that specializes in wastewater treatment and water purification. As GE has forecast, the demand more access to good water is only increasing, and although the investment hasn't been hugely profitable, GE is looking to the future with purchases like this.GE is also making another future bet with a $125,000 investment in Albany city elementary to promote Science and Math education. Much like IBM, this larger corporation wants to make sure to stem the lagging US dominance in science and technology, and they don't seem to be trusting the U.S. government to step up and fund science and math education.
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