Toshiba acquires 26% interest in Indian water management company

Toshiba has acquired a 26% strategic stake in UEM India, a provider of turnkey services in water and wastewater collection, treatment and disposal.

India Value Fund Advisors (IVFA), which acquired a majority stake in UEM in July 2010, will continue to own a majority stake in the venture.

Toshiba’s entire investment will be infused into the business to drive future growth. Along with the agreement, an executive officer from Toshiba will join the company’s Board.

UEM Group, founded by Krishan Kshetry, provides complete, single-source services from engineering and design to construction and installation of water, waste-water and domestic waste treatment facilities.

Toshiba vice-president of water and environmental systems division Naohiro Noro said: "We are delighted to partner with IVFA and Mr Kshetry, who have established themselves as highly respected players in the water treatment business.

"This is a strategic growth area for Toshiba and we will bring our expertise and global access to the company, and also learn from UEM’s vast experience in delivering complex, turn-key projects around the world. I look forward to deepening our relationship with UEM, IVFA and Krishan Kshetry over the coming years."

Mr Kshetry said: "The formation of this collaboration is a seminal moment in UEM’s journey.

"The water sector has tremendous opportunities and we have the right tools and partners to achieve our vision."

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