Hitachi Zosen takes a majority stake in Osmoflo
Hitachi Zosen is to buy a majority stake in Australia's Osmoflo Holdings, with Osmoflo becoming a subsidiary of Hitachi Zosen.
The deal covers 70 per cent of shares in Osmoflo currently owned by Shine Investments; 30 of shares will continue to be held by Marubeni Water Australia.
The deal will enable Hitachi to integrate Osmoflo's technology, especially reverse osmosis, with its plant engineering technology and experience of multi-stage flash distillation. The aim is to enhance opportunities in desalination and industrial water treatment markets globally, particularly in the Middle East.
Additionally, the move will help Hitachi Zosen to further the strategy it set out in its three-year management plan, Hitz Vision II, which aims to promote operations at overseas bases.
Osmoflo has operations in Asia, Australia, the Middle East, and South America.