Infrastructure development company Accentuate's (ACE) wholly owned subsidiary Safic has concluded a joint venture (JV) agreement with Indian-based water treatment company Ion Exchange (India).
The JW would be known as Ion Exchange-Safic (Pty) Limited with ownership being 60% held by Ion Exchange India and 40% by Safic, Accentuate said on Tuesday.
Ion Exchange India has pioneered water treatment in India and is today the premier company in water and environment management in India, with a strong international presence.
Formed in 1964, as a subsidiary of the Permutit Company of UK, it became a wholly Indian owned company in 1985 when Permutit divested their holding.
Currently Ion Exchange employs in excess of 1,600 people, and has multi-disciplinary teams of highly experienced professional managers, technologists and scientists who are supported by infrastructure across India and abroad.
In its 47 years of experience, the company has provided installations for diverse industries in India and abroad, from nuclear and thermal power, fertiliser and refinery, to automobile, electronics and textile.
Accentuate said it has long been its objective to increase the annuity and organic contribution made to the Group by Safic.
“Ion Exchange India has extensive experience in the provision of water technology with developing economies. In addition to an impressive base of proprietary technologies, Ion Exchange has partnered with leading global companies to provide a comprehensive product and service offering encompassing the varied needs associated with water treatment,” it said.
Safic has an extensive customer base, distribution channels and a 30 year reputation for quality and service within the Southern African region.
In addition to providing access to an existing customer base, Safic will also provide administrative and logistics support to the venture ensuring an efficient and effective go to market strategy.
SA has identified the need for a focused approach to the management of scarce water resources, with much attention from both Government and the Private Sector centred on the responsible use of water.
Aging water infrastructure and challenges relating to historical activity within areas such as the mining industry and general industry has identified the need for massive intervention in the management of water as a strategic resource.
Thebe Investment Corporation will provide the necessary credentials and guidance regarding issues of skills transfer, transformation and sustainable development within both the South and Southern African region.
Market penetration will be concentrated on the South Africa and SADC region.
The effective date of the agreement will be 1 July 2012. The JW will be established in Johannesburg with offices operating from the Accentuate premises in Steeldale. - I-Net Bridge