Hitachi Zosen to Acquire Majority Stake in Osmoflo Group
Osmoflo has anounced that Hitachi Zosen (“Hitz”) Corporation of Japan has entered into a definitive agreement with Shine Investments to acquire majority ownership of the Osmoflo group of companies. Osmoflo is a water treatment process technology and engineering company in desalination and industrial water treatment. Founded in Australia in 1991, the company has grown in other regions including the Middle East, South East Asia, India and South America based upon its reputation for high quality and performance.
The transaction will enable Osmoflo's technology to be integrated within Hitz, especially membrane based solutions such as reverse osmosis desalination. When combined with Hitz’s technology and experience, this will further enhance the combined company's opportunities in the desalination and industrial water treatment business in international markets including the Middle East.
Osmoflo’s CEO Emmanuel Gayan said, “This is a fantastic moment for Osmoflo, the point when we can truly become a global business with the ability to replicate around the world our Australian successes and to promote worldwide our high-quality, competitive differentiated offering. The desalination and reuse capabilities and experience of Osmoflo's team are first class and with the ability to fully utilise these skills via the Hitz network we expect significant opportunities for growth."
It is expected that the transaction will complete in early 2017.