Smart water-management system maker Metito, which is active in 46 countries globally, has acquired the majority shares of Turkish chemistry company Info Group.
Acquiring shares of the Turkish firm is a significant milestone for Metito, said Fady Juez, a member of the company's executive board, during a signing ceremony in Istanbul late Monday.
He stressed, "We are delighted to have found the Info Group, which shares the same vision and quality goals with Metito." Metito will continue its experience, know-how, network, high-tech capacity and success in Turkey under the name of Info Group, he noted.
Noting that Mitsubishi Heavy Industries and the World Bank's International Finance Corporation (IFC) were shareholders of Metito, he said Info Group will enjoy opportunities in Turkey and beyond. Info Group will be a platform for chemistry in Turkey for Metito, but it plans to make more investments in the country in other fields, such as engineering, supply, construction and alternative energy, he underlined.
Turkey has changed incredibly in recent years and will continue to take steps for growth and investments in numerous areas, especially energy, substructures, mining, tourism, transportation and water, he highlighted.
He added that Turkey was an exciting market with its growing population and ongoing development. Info Group co-founder Abdullah Uslu said the company regained 10 million square meters of water so far with its special systems.
"We aim to provide more productive services to our customers with Metito's technology and vision," he said.
Founded over 60 years ago, Metito has undertaken 3,000 water projects in 46 countries so far, employing around 3,000 personnel globally.