On 7 January 2014, Toshiba Corporation agreed to acquire a 26% stake in UEM India Private Limited, an environmental services company based in Noida, India that specializes in turnkey water and wastewater treatment sectors. UEM will continue to be majority (51%) owned by India Value Fund (IVFA), which acquired its stake in 2009 for US$19 million. Toshiba’s purchase has been estimated to be US$20 million. Toshiba’s role in the water sector has traditionally been in manufacturing electrical systems for water supply and sewer facilities. The company has also expanded the business into overseas markets, including China and Indonesia and has an R&D facility in Singapore.
- Toshibas investment highlights scaling Asian market opportunities
- Foreign players are looking more favorably toward India market for long-term growth
- Stressed India landscape demanding new technologies and solutions