TOKYO, Japan – In a bid to offer both thermal and membrane-based desalination to the market, Japanese company Hitachi Zosen Corporation will acquire the majority of shares of Australian firm, Osmoflo.
Subject to the completion of procedures, Osmoflo will become a subsidiary of Hitachi Zosen.
The coupling of the companies will enable Hitachi to augment its plant engineering technology and experience in multi-stage flash (MSF) with Osmoflo’s reverse osmosis (RO) membrane technology.
As part of the agreement, Hitachi will acquire 70% of the outstanding shares of Osmoflo Holdings, while the remaining 30% will continue to be held by Marubeni Water Australia.
Osmoflo generated net sales of AUD$142.7 million in 2015 but this dropped to AUD$80.5 million in 2016.