BIZCHINA / Overseas Investment
Dow concludes water-treatment firm purchase
By Fu Chenghao (Shanghai Daily)
Updated: 2006-07-14 15:59
Dow Chemical Co yesterday completed its acquisition of a leading Chinese
water-treatment company to further strengthen its portfolio in the sector.
The purchase of Zhejiang Omex Environmental Engineering Co, based in
Huzhou in Zhejiang Province, is believed to be the first privately run
firm to be acquired by Dow in the Chinese market.
Terms of the deal were not revealed as the sum fell below US regulatory
requirements for disclosure, said Ian M. Barbour, general manager for Dow
Water Solutions.
The acquisition will help Dow expand its presence in the growing global
market for filtration systems and equipment and give OEE easier channels
to the international market, said Barbour.
The demand for environmentally sustainable water treatment equipment is
growing fast in China and around the world, and many giant international
companies such as Siemens AG and General Electric Co are involved in the
business.
"We very focus on technology ... Siemens is actually our customer,"
Barbour said. "In one sense, we are competing with them, but in another,
we supply our technology to them."
Frankie Ko, vice president of business development for Dow China, said
the company intends to carry out more acquisitions in the country.
Midland, Michigan-based Dow has so far invested more than US$500 million
in China, the third biggest market after its home turf and Germany. Last
year, China contributed about 5 percent to Dow's global sales of US$46
billion.
(For more biz stories, please visit Industry Updates)
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