Israel Chemical (ICL), has sold its water treatment business, APW, to Japanese water treatment giant Kurita Water Industries for €250 million (US$ 317 million). The sale was part of ICL’s aim to divest non-core assets.
Joint owner of Israeli desalination company IDE Technologies, ICL, said the APW sale came
under its strategy to “focus on its core businesses in the agriculture, food and engineered materials markets.”
Kurita’s purchase of the Germany-based APW was in line with its ambitions to expand its European operations. “The combination of ICL’s water solutions business with Kurita’s water technologies will help Kurita develop a more advanced platform to collectively build a global footprint,” Kurita said.
Germany-based APW was included in Kurita’s acquisition of ICL’s performance chemicals business which includes elements elsewhere in Europe and in China.