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.
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