April 16, 2021
Notice Regarding Completion of Acquisition of Shares in Middle Eastern Company Operating Water Treatment Chemicals Business and Its Conversion to a Consolidated Subsidiary
As announced in the "Conclusion of Share Transfer Agreement with Middle Eastern Company Operating Water Treatment Chemicals Business" on October 1, 2020, Kurita Water Industries Ltd. (Head Office: Nakano-ku, Tokyo; President: Michiya Kadota; hereinafter "Kurita") announces that Kurita Europe GmbH (Germany), a consolidated subsidiary of Kurita, acquired 51% of shares in Kurita Aquachemie Limited (based in the United Arab Emirates, or "UAE"; hereinafter "KAC"), a holding company newly established by Aqua Chemie DMCC (based in UAE; hereinafter "AC"), based on the share transfer agreement concluded with AC on September 30, 2020. As a result, KAC has become a consolidated subsidiary (*1) of Kurita.
With KAC acquisition, Kurita consolidates two subsidiaries established in GCC. Kurita Aquachemie FZE based in Dubai and Kurita Aquachemie Saudi Arabia Co. based in Saudi Arabia, both owning plants for water treatment and process chemicals' production that will lead Kurita to be a main player in the region.
To bolster its global four-region structure (*2), moving forward the Kurita Group will advance efforts to optimize its business portfolio and develop business foundations in each geographical area around the world. The Group will also seek to expand growth opportunities through M&A activities, tie-ups with strategic partners and similar endeavors while developing increased intimacy with customers by providing them with total solutions that create new value.
- *1: Kurita's shareholding ratio will be 51%.
- *2: Japan, Asia, EMEA (Europe, the Middle East and Africa) and North & South America
(Reference) Press releases in the past: