Hyflux Acquires 30% Stake in European Water Tech Company

Hyflux acquires 30% stake in European consumer water technology company

Hyflux says wholly owned subsidiary Hyflux Consumer Products is acquiring a 30% stake in Europe based consumer water technology company, Kaqun Europe Zrt for US$8 million ($11.2 million)

Founded in 2002, Kaqun Europe pioneered a water with beneficial properties that is used in the Kaqun line of products, like baths, bottled water and skincare products. The brand is available in US and Europe through direct sales and distributors.

Hyflux says it plans to integrate its proprietary technology with Kaqun Europe to optimise the efficacy of the water, scale up the business, and create a product line under the brand name ELO.

Hyflux will have exclusive rights to manufacture, sell, market and distribute ELO products in Asia-Pacific, the Middle East and Africa, under the newly established 70% owned entity Elo Water Pte Ltd. Hyflux Consumer will own a 70% stake in Elo while Kaqun Europe will own the remaining 30%.

Hyflux shares closed 1.5% higher at 67.5 cents.

About Hyflux:

Hyflux is a leading global fully-integrated water solutions company committed to producing water that is clean, safe, affordable and accessible. Our projects and operations span across the globe, and include landmark projects such as some of the world's largest seawater reverse osmosis desalination plants in Singapore, China and Algeria. We offer sustainable solutions in the areas of membrane-based desalination, water recycling, wastewater treatment, including membrane bioreactor (MBR) technology, and potable water treatment.

Source: The Edge Markets

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