Aquatech Acquires Chemicals and Services Capability Through Strategic Investment into WEX Technologies |
Aquatech International Corp.
1 Four Coins Dr.
Canonsburg, PA, 15317
USA
Press release date: July 5, 2011
Pune, India; July 5, 2011 Aquatech, a global leader in water purification for industrial and infrastructure markets, has made a strategic investment into WEX Technologies Private Limited, a leading provider of performance water treatment chemicals and services.
Founded in 2001, WEX is a widely recognized chemical and services company focused on the rapidly growing Indian market. WEX's chemical product solutions address applications for boilers, cooling towers, and reverse osmosis and thermal evaporator antiscalants and cleaners. Over the past 10 years, WEX has experienced consistent growth and has built an impressive customer base, particularly in the power, petrochemical, and oil and gas markets.
Aquatech has made a majority investment into WEX, a privately owned company headquartered in Pune, India. "Aquatech has been focused on growth in India by providing innovative and integrated technological solutions. Investment into WEX will enhance our ability to add value to our clients by providing them a Total Water Management solution. By working together, Aquatech and WEX can help our clients use less water and optimize cost by managing their water consumption." said Aquatech's Managing Director, Devesh Sharma "Our work can positively impact our client's water and energy footprint and save them money as well."
WEX will continue to operate as an independent entity with the original founders, who are recognized and respected veterans in the field, continuing in their management capacities. Dhrubo Banerjee will continue to be the Managing Director of WEX, and Aquatech will add new members to the Board of Directors of WEX in order to develop synergies that will enable both companies to offer complete water treatment solutions to their respective customers.
"This investment by Aquatech will provide WEX the required infrastructure and network to meet our accelerated growth plans and help WEX cater to the entire spectrum of water treatment needs for our clients." said WEX Managing Director Dhrubo Banerjee.
For further information contact:
Shamita Sengupta at SenguptaS@aquatech.com or 91-20-6654-7000
www.aquatech.com
www.wextech.co.in
About Aquatech
Aquatech is a global leader in water purification technology for industrial and infrastructure markets with a focus on desalination, water reuse, and zero liquid discharge. The company is headquartered in the United States, and has a significant presence worldwide through subsidiaries in India, Europe, the Middle East, and China. Aquatech strives to provide Technology Leadership and Performance Excellence to the Global Water Industry, and aims to support its clients with cutting edge Sustainable Solutions, minimizing their Life Cycle Cost, as well as their Carbon and Water Footprint.
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