Seeking to expand its water management business, Japan’s Toshiba Corp. has acquired a majority stake in UEM India Private Limited (UEM), an international water services company headquartered in Noida, India, according to a press release.
Toshiba purchased an additional 54 percent stake in UEM to become the majority owner with an 80 percent shareholding. India Value Fund Advisors (IVFA) and UEM founder Krishan Kshetry will remain as minority shareholders and the current management team at UEM will continue to run the business.
UEM specializes in providing turnkey services for water and wastewater collection, treatment and disposal facilities, noted the release. The company offers complete, single-source services from engineering and design to construction and installation of water, wastewater and domestic waste treatment facilities.
Toshiba has manufactured electrical systems for water supply and sewage facilities for more than 40 years. The company believes that India is a “promising country” for developing its water-related business in the future.
Hirofumi Yoshino, vice president of Toshiba’s Water & Environmental Systems Division, commented in the release: “Water treatment is a strategic growth area for Toshiba, and UEM is a highly respected player in the water treatment business with vast experience in delivering complex, turnkey projects around the world.
“After Toshiba acquired 26 percent strategic stake in March 2014, UEM won some additional orders by synergies with Toshiba, for water and wastewater treatment plants from Japanese companies in India and other clients abroad. With this recent enhanced relationship, we will bring in our expertise and global access to enable UEM to become one of the leaders in global water treatment industry.”
You can find the entire release here.