Amiad Filtration Systems Acquires Remaining Half of Chinese Joint Venture
$3.1 million deal will help Amiad expand in Chinese market
Amiad Filtration Systems, a producer and global supplier of water filters and filtration systems for the industrial, municipal and irrigation markets, announced that it acquired the remaining 50% of its Chinese subsidiary, Yixing Taixing Environtec Co. Ltd., for $3.1 million.
According to Amiad, the acquisition is expected to help expand the company’s foothold in China and is aligned with its current global expansion strategy, including the recent acquisition of competitor Arkal.
“By fully incorporating Taixing into our company, we are furthering our ability to provide our Chinese customers with the market's most innovative, efficient and affordable water filtration technologies," said Arik Dayan, CEO of Amiad.
Yixing Taixing Environtec’s current management team, led by Deputy Chairman Bolong Hsu, will remain in place.
Headquartered in Yixing, Yixing Taixing Environtec includes five regional offices across China, as well as in-country manufacturing facilities, increasing Amiad's ability to target new customers and allowing Amiad to produce its filtration systems locally. The ability to manufacture in China is expected to allow Amiad to significantly reduce prices on the products it sells to its Chinese customers.
“This acquisition is well-aligned with our long-term geographical expansion growth strategy,” Dayan said. “The existing infrastructure of Taixing will allow us to penetrate new markets in China, particularly the industrial and municipal sectors."