ASIAN ACTIVITIES
- From: Vol 11, Issue 10 (October 2010)
- Category: Need to know
- Region: Asia
- Country: Australia, China, Japan and Korea (South)
- Related Companies: Aqua-Tech Engineering & Supplies Pte Ltd (AT), Beijing Capital Group, Gold Star Engineering and Construction, Hitachi Zosen, LG Electronics, Sumitomo and Tyco
* Tyco International has decided to focus its water business on the Asia Pacific region by selling its European valves and fittings unit to private equity house Triton for $245 million.
The company says that the European residential and commercial water fittings market is becoming commodified, whereas there are still good margins and growth in the Asia Pacific region. Apparently the company booked revenues of $125 million from the pipeline contract for the Wonthaggi plant in Australia.
* Sumitomo has launched a joint venture with Beijing Capital to head into the Chinese ...
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