Press Information
Mitsubishi Heavy Industries and Mitsubishi Corporation Undertake Strategic Investment in Metito, the Leading Water Company in Emerging Markets
Tokyo, July 8, 2014 -- Mitsubishi Heavy Industries, Ltd. (MHI) and Mitsubishi Corporation (MC), together with the Japan Bank for International Cooperation (JBIC), have agreed to acquire shares in Metito Holdings Ltd. (Metito), the leader and provider of choice for total intelligent water management solutions in the emerging markets, headquartered in Dubai. The acquisition will allow MHI and MC to expand their presence in the water business in fast-growing Middle Eastern, African and Asian markets.
Founded in 1958, Metito has built more than 3,000 facilities for water desalination, water treatment, wastewater treatment and recycling, resulting in a top five ranking - according to the International Desalination Association (IDA) - in terms of number of installed desalination plants worldwide. Metito also provides utility services in the U.A.E, Egypt and China.
MHI has an extensive track record in building large-size desalination plants in the Middle East and has developed advanced technologies for water treatment. MC has been building up management know-how in the water business through investments in Japan, Australia, the Philippines and Chile. With these strengths and support from JBIC, this partnership will accelerate the strategic expansion of our water business globally.
Partnering with Metito, we envisage that we will contribute to enhancing the living conditions of people and to preserving the environment in regions that face issues such as water scarcity and lack of related infrastructure.
About MHI Group
Mitsubishi Heavy Industries (MHI) Group is one of the world’s leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com.