TREVOSE, Pa., May 27, 2014 (GLOBE NEWSWIRE) -- GE (NYSE:GE) today announced that the Swedish company WIBAX Energy AB, part of the WIBAX Group, will distribute GE's water technologies in the Nordic region. The distribution agreement, which started on May 1, 2014, combines WIBAX's local expertise and GE's advanced technologies to create greater access to innovative water and process solutions in the Nordic region. The distribution agreement will cover Denmark, Sweden, Norway and Finland.

"This cooperation with GE plays an important milestone in WIBAX's strategy of expanding product offerings to the different industries we are currently serving. This also opens up new geographical expansion, new industries and new products, which are all complementary to the existing WIBAX portfolio. With this new strategic alliance, we can only add more value to effectively serve the customers in the region," said Jonas Wiklund, group managing director, WIBAX AB.

The synergy of this agreement makes a lot of sense for all concerned as this would allow GE and WIBAX to serve the customers one step closer. With WIBAX's strategically located terminals and expansive logistic solutions, local laboratory, offices in key cities, headquarters in Piteå, Sweden, and logistic warehouses around the Nordic area, it enables them to meet customer needs more effectively. Both WIBAX and GE share similar safety and compliance values as well as an understanding of the value-service delivery model.

The agreement will enable WIBAX to deliver GE's latest water technologies to its customers to improve efficiency while reducing operating costs.

"GE technology helps customers reduce costs, meet environmental regulations and prepare for the evolving demands of their industry," said Ralph Hadley, GE region executive, chemical and monitoring solutions, Europe and Africa—water and process technologies for GE Power & Water. "Through the distribution agreement with WIBAX, GE is well positioned to solve our customers' tough-to-treat water challenges."

WIBAX provides a wide range of chemical products and services, bio-based fuels, technical support and development, chemical cleaning systems, service and maintenance and complete logistic solutions for safe delivery of chemicals. With strategically placed terminals and a fleet of specialized tank vehicles, WIBAX offers products to the market with cost-effective logistic solutions from production to the end user. This enables WIBAX to meet customer needs and ensure deliveries at the right time.

GE continues to offer a complete portfolio of solutions to customers in the Nordic region, including advanced cooling chemistry, process chemistry, membrane chemicals and equipment systems to help customers protect their assets, optimize processes and improve efficiency. Together, both GE and WIBAX are committed to bring technology, expertise and best practices to the Nordic region.

About WIBAX

WIBAX is a high technology specialist company that sources, processes, sells and delivers special products and base chemicals to the pulp and paper, metal, mining and district heating industries across Europe, mostly in the Nordic. The company has a sales turnover of around 600 million Swedish crowns in 2013. WIBAX handles more than 900, 000 tons of chemicals annually. WIBAX's terminal storage capacity is 245, 000 m³ of liquid chemicals and has a fleet of 37 specialized tank vehicles. WIBAX Group currently has 130 employees. The headquarters and production facilities are situated in Piteå, Sweden. Terminals and offices are strategically located all over Sweden as well as in Finland. For more information, visit the company's website at www.wibax.se.

The company strives to see continuous development in all aspects of its businesses; from purchasing, logistics, research and development collaboration with customers, technology, production and customer service. It is important for the company to create growth opportunities for the future. WIBAX tries to minimize the environmental impact of its activities while at the same time optimizing the use of resources.

About GE

GE (NYSE:GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.

About GE Power & Water

GE Power & Water provides customers with a broad array of power generation, energy delivery and water process technologies to solve their challenges locally. Power & Water works in all areas of the energy industry including renewable resources such as wind and solar; biogas and alternative fuels; and coal, oil, natural gas and nuclear energy. The business also develops advanced technologies to help solve the world's most complex challenges related to water availability and quality. Power & Water's six business units include Distributed Power, Nuclear Energy, Power Generation Products, Power Generation Services, Renewable Energy and Water & Process Technologies. Headquartered in Schenectady, N.Y., Power & Water is GE's largest industrial business.
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