VA TEch Wabag Ltd. acquires VA Tech Wabag Austria 1. November 2007

 Wabag India, head-quartered in Chennai, acquired VA Tech Wabag, Austria. This is the first time that an Indian company in the water sector has taken over a European company. 

VA Tech Wabag Ltd., an ICICI Ventrues company, has acquired VA Tech Wabag GmbH, Austria. The Indian company was till 2005 a subsidiary of VA Tech Wabag, Austria. In 2005, Siemens acquired the Austrian company while ICICI Ventures took a majority stake in the Indian company with a management Group headed by Mr. Rajiv Mittal, MD and CEO  VA Tech Wabag  (India), holding a minority stake.

On the significance of the acquisition, Mr. Mittal said that it was the first time  in the water management sector where an Indian company has acquired its European counterpart. The Wabag brand name, the modern technology options and research facilities in Austria and Switzerland would combine with the design-build-operate skill of Wabag India to offer sustainable water solutions.

VA Tech Wabag has been in India for over a decade and has a presence in water treatement in the public and private sector.

Its business areas cover municipal water and waste water treatment, industrial water treatment, operation and maintenance. It also has offices in West Asia and South East Asia.

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