Amiad acquires full ownership of Indian subsidiary

Amiad Water Systems Ltd has acquired 40% of the issued and outstanding share capital of its Indian subsidiary, Amiad Filtration Systems (India) Private Limited (Amiad India), from its local partner.

As a result, Amiad Water Systems now holds 100% of the shares of Amiad India.

As part of the agreement, the local partner has stepped down as CEO and director of Amiad India. Amiad Water Systems has appointed Milind Kothari as the new general manager of Amiad India. Kothari has had many years of experience in management roles in the water industry in India.

Amiad Water Systems says that the investment reflects its confidence in the potential of the Indian market, and forms part of the Israeli company’s long-term strategy to acquire 100% ownership of its subsidiaries to have a local presence and to establish direct sales channels in competitive markets.

“This investment reflects our belief in the sustained and growing market opportunity for Amiad in India,” said Dori Ivzori, CEO of Amiad Water Systems. “Since establishing a presence in India in 2009, we have significantly expanded our business, including setting up production activity, and this acquisition is the natural next step to fully leverage what we have developed and to further consolidate our global position in the provision of water filtration and treatment solutions.”