Aquatech invests in India industrial water market
Industrial water purification company Aquatech has made a majority investment into WEX, a privately owned provider of performance water treatment chemicals and services headquartered in Pune, India...
PUNE, India, July 5, 2011 -- Industrial water purification company Aquatech has made a majority investment into WEX, a privately owned provider of performance water treatment chemicals and services headquartered in Pune, India.
Founded in 2001, WEX is focused on the rapidly growing Indian market. WEX's chemical product solutions address applications for boilers, cooling towers, and reverse osmosis and thermal evaporator antiscalants and cleaners. Over the past 10 years, WEX has experienced consistent growth and has built an impressive customer base, particularly in the power, petrochemical, and oil and gas markets.
"Investment into WEX will enhance our ability to add value to our clients by providing them a Total Water Management solution. By working together, Aquatech and WEX can help our clients use less water and optimize cost by managing their water consumption," said Aquatech's Managing Director, Devesh Sharma. "Our work can positively impact our client's water and energy footprint and save them money as well."
WEX will continue to operate as an independent entity with the original founders continuing in their management capacities. Aquatech said it will add new members to WEX's Board of Directors in order to develop synergies that will enable both companies to offer complete water treatment solutions to their respective customers.