Murugappa Group signed agreement with Organo Corp to form Joint Venture
As per the agreement, the Murugappa Group will hold 51 percent in JV and the remaining portion will be with the Organo Group.
The water treatment engineering company Polutech Limited of Murugappa Group on 4 August 2015 signed an agreement with Japan-based Organo Corp to form a Joint venture (JV) of an industrial water treatment requirement company.
As per the agreement, the Murugappa Group will hold 51 percent in JV and the remaining portion will be with the Organo Group. The estimated new venture will deal in industrial water treatment requirements services to meet growing demand of industries for waste water management.
Murugappa Group’s Polutech manufactures equipment and designing systems for water and waste water treatment plants. It is a complete turnkey solution provider in raw water and effluent treatment systems and claims to have executed numerous projects over 30 years across industries.
While, Organo is a key player in general water treatment engineering. It provides water treatment systems, management and maintenance of delivered systems and also deals in sales of standard products and chemicals.
Now get latest Current Affairs on mobile, Download # 1 Current Affairs App