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Amiad Filtration buys out partner in Chinese subsidiary

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Wednesday, November 3rd, 2010

As reported in IVC:

Amiad CEO Arik Dayan: The existing infrastructure of Taixing will allow us to penetrate new markets in China.

Amiad Filtration Systems Ltd. (LSE:AFS), which produces and supplies water filters and filtration systems for the industrial, municipal and irrigation markets, announced today that it has acquired the remaining 50% of its Chinese subsidiary, Yixing Taixing Environtec Co. Ltd., for $3.1 million.
Amiad said that the acquisition will help the company expand its foothold in China and is part of its global expansion strategy, which also included the recent acquisition of its competitor Arkal.

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