Saturday, November 2, 2013
M'bishi Rayon Buying Water Treatment Company
TOKYO (Nikkei)--Mitsubishi Rayon Co. said Friday that it will acquire a top manufacturer of groundwater filtration systems in a bid to expand its water treatment business in emerging markets.
Mitsubishi Rayon is set to purchase more than 70% of Wellthy Corp. for 4-5 billion yen in mid-December.
The Tokyo-based Wellthy is a leading manufacturer of membrane filtration systems for groundwater. It has supplied about 1,000 factories, hotels and other facilities with the systems in Japan, logging overall sales of about 5.3 billion yen for the year ended May.
In China and recently developed countries of Southeast Asia and Africa, water for everyday use often comes from wells rather than public water supplies. Mitsubishi Rayon plans to use its overseas sales channels for its wastewater treatment membranes and household water purifiers for business expansion.
(The Nikkei, Nov. 2 morning edition)