Sep 22, 2008

Arison Group Invests $100 Million in Urban Water Efficiency Firm

Miya will be a new global water company focusing on helping utilities and municipalities prevent water system losses

The Arison Group, an Israeli business and philanthropy concern, has invested $100 million in the formation of Miya, a new global water company that will focus on helping utilities and municipalities prevent water system losses.

The formation of Miya represents “a significant part of the implementation of our vision of investing in business that bring an added value to the world,” said Arison Group Chair Shari Arison, who will hold the same title at Miya.

The new firm’s operations consist of six recently acquired businesses, which will operate as Miya subsidiaries: Dorot, a global provider of pressure control valves; Gutermann, a Swiss supplier of data acquisition and leak detection equipment to water utilities; Croatia-based IMGD, a water loss management services firm; Romiya, a provider of water loss management services in Romania; Veritec Consulting, a water loss consultancy serving the Canadian market; and WRP, a consulting and engineering firm specializing in water resources management in South Africa and Australia.

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