KUALA LUMPUR, Aug 23 (Bernama) -- Hitachi Zosen Corporation has acquired additional shares of Osmoflo Holdings Pty Ltd (Osmoflo) -- a global desalination and water treatment subsidiary based in Australia -- making the company a wholly-owned subsidiary of Hitachi Zosen.
Hitachi Zosen said in a statement that in February 2017, the company acquired 70 per cent of the outstanding shares of Osmoflo, making it an affiliated company.
With the intention of strengthening the water treatment business which is positioned as the core business in the long term business plan “Hitz 2030 Vision”, Hitachi Zosen acquired the remaining 30 per cent of Osmoflo shares from Japan’s Marubeni Corporation.
Hitachi Zosen Group aims to expand its water business by integrating Osmoflo’s advanced technologies focused principally on the reverse osmosis membrane technology with own plant engineering technology and experience accumulated in the multi-stage flash method and aspire to make contribution to the world water supply.
Details on http://www.hitachizosen.co.jp/english/
--BERNAMA
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