Hitachi buys Singapore water installation firm
HITACHI Ltd on Monday said that it plans to acquire Singapore engineering company Aqua Works and Engineering Pte Ltd, which specialises in water related installations for commercial facilities, public spaces and residential properties in Singapore. The purchase price was not disclosed. Aqua Works made sales of S$9.07 million in fiscal 2013, a media statement from Hitachi said.
The purchase, to be done through Hitachi Infrastructure Systems (Asia) Pte Ltd, is expected to be completed by the end of January 2015.
Hitachi aims to combine Aqua Works' water features with Hitachi's reverse osmosis membrane systems. These are used during water treatment.
"At the same time, Hitachi will leverage Aqua Works' customer base in Southeast Asia to strengthen and expand its water and environmental solutions business," it said in the statement.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Euro at highest to yen since 2008, markets nervy over Tokyo stepping in
Apac Realty enters the Philippines with franchise agreement
Aztech Global Q1 net profit up 18.7% to S$16 million on foreign exchange gains, write-backs
UPS profit beats estimates as cost cuts offset weak delivery demand
PepsiCo beats quarterly revenue estimates on price hikes, steady demand
General Motors beats quarterly results targets, raises forecast