Hyflux sells half-share of Singapore membrane R&D firm
Singapore's Hyflux Ltd announced on 11 March 2014 that it had agreed with Marmon Water (Singapore) Pte Ltd (MWS) to sell to MWS its entire 50% equity interest in Hyflux Marmon Development Pte Ltd (HMD), a company devoted to membrane/media filtration research.HMD has a total issued and paid-up share capital of Sing$ 6.25 million (US$ 4.92 million), with MWS holding the other 50% equity interest through a subsidiary.
HMD's principal activities are research and development of water treatment technologies, with particular focus on combined membrane and media filtration, which have since been successfully applied and integrated into a wide range of consumer applications.
Hyflux states that such technologies are "non-integral to Hyflux's realigned product focus and existing suite of consumer products". Going forward, Hyflux says it will continue to expand and develop integral membrane technology for applications across industries including industrial and municipal markets.