OSAKA, Japan--(BUSINESS WIRE)--Aug 21, 2018--Hitachi Zosen (TOKYO: 7004) announced that it acquired additional shares of Osmoflo Holdings Pty Ltd (hereinafter referred to as Osmoflo), a global desalination and water treatment subsidiary based in Australia, making the company a wholly-owned subsidiary of Hitachi Zosen.

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Rationale for the transaction

In February 2017, Hitachi Zosen acquired 70% of the outstanding shares of Osmoflo, making it an affiliated company. With the intension of strengthening the water treatment business which is positioned as the core business at the long term business plan “Hitz 2030 Vision”, Hitachi Zosen acquired the remaining 30 % of Osmoflo shares from Marubeni Corporation (Head Office: Tokyo, Japan / President and CEO, Director: Fumiya Kokubu).

Future perspective

Hitachi Zosen Group aims to expand its water business by integrating Osmoflo’s advanced technologies focused principally on the reverse osmosis membrane technology with own plant engineering technology and experience accumulated in the Multi-stage Flash method and aspire to make contribution to the world water supply.

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CONTACT: Hitachi Zosen Corporation

Miki Nagahara, +81-6-6569-0013

Shinsaku Sugimoto, +81-3-6404-0802

Ryo Kimura, +81-3-6404-0802

Public Relation Section

PR_section@hitachizosen.co.jp

URL:http://www.hitachizosen.co.jp/english/

KEYWORD: AUSTRALIA ASIA PACIFIC SOUTH AMERICA AUSTRALIA/OCEANIA CHILE SINGAPORE AFRICA MIDDLE EAST INDIA JAPAN

INDUSTRY KEYWORD: BUILDING SYSTEMS TECHNOLOGY HARDWARE MANUFACTURING ENGINEERING NATURAL RESOURCES OTHER NATURAL RESOURCES ENVIRONMENT CONSTRUCTION & PROPERTY

SOURCE: Hitachi Zosen Corporation

Copyright Business Wire 2018.

PUB: 08/21/2018 10:00 PM/DISC: 08/21/2018 10:01 PM

http://www.businesswire.com/news/home/20180821005747/en