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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.