Founded in Australia in1991, Osmoflo is a global desalination and wastewater treatment company. For the financial year ended 30 June 2016, Osmoflo had net sales of A$80.5 million.
Hitachi Zosen says that the transaction will enable the integration of Osmoflo’s technology, especially reverse osmosis, with its plant engineering technology and experience in the multi-stage flash method.
Under the agreement, Hitachi Zosen is to acquire by cash consideration 70% of the outstanding shares of Osmoflo Holdings Pty Ltd, held by Shine Investments Pty Ltd and Shine Investments International Pty Ltd. The remaining 30% of shares of Osmoflo will continue to be held by Marubeni Water Australia Pty Ltd, a subsidiary under Marubeni Group.
Osmoflo CEO Emmanuel Gayan said: “This is a fantastic moment for Osmoflo, the point when we can truly become a global business with the ability to replicate around the world our Australian successes and to promote worldwide our high-quality, competitive differentiated offering. Desalination and reuse capabilities and experience of Osmoflo’s team are first class and with the ability to fully utilise these skills via the Hitz network we expect significant opportunities for growth.”
The deal is expected to be completed early in 2017.
