Kurita Water Industries Ltd. (Head Office: Nakano-ku, Tokyo; President: Michiya Kadota, hereinafter “Kurita”) announces today that it has acquired Fremont Industries, LLC (headquartered in Minnesota, U.S.A.; hereinafter “Fremont”) in January 3, 2017 (CST), a water treatment chemicals manufacturing and sales company. The acquisition price will be about $40 million US dollars (about 4.7 billion yen). Kurita has acquired 100% of the equity interests of Fremont through Kurita America Holdings Incorporated (headquartered in Delaware, U.S.A.; a Group company of Kurita).
Fremont is a water treatment chemicals manufacturing and sales company that provides various types of water treatment chemicals in a broad range of areas including hospitals and office building air-conditioning, mainly in markets with growth potential such as biofuels and the food industry. Fremont has built local area-centric operating bases and systems in the Midwest Region of U.S.A. Kurita expects to expand sales and products and technologies of the Kurita Group and to develop new markets by taking advantage of the customer base and sales network of Fremont.
Net sales of the Kurita Group in U.S.A. are expected to increase to more than twice the current level due to this acquisition. The Group will further accelerate its business development in U.S.A. by enhancing and expanding the sales and service networks of water treatment chemicals all over U.S.A. in cooperation with the existing Kurita Group company (Kurita America, Inc. headquartered in Texas, U.S.A).
The Kurita Group aims to take a further leap forward as a corporate group achieving success in global competition by establishing a global business network spanning the four regions of Japan, Asia, Europe and North and South America.
Overview of Fremont
|Company name||Fremont Industries, LLC|
|Paid-in capital||10,000 US dollars|
|Net sales||30 million US dollars (fiscal 2015)|
|Head office||Minnesota, U.S.A.|
|Business||Manufacture and sale of water treatment chemicals
(Boiler water treatment chemicals, cooling water treatment chemicals, waste water treatment chemicals, chemical dosing system and monitoring systems, etc.)