Multinational water company buys Turkish chemical firm

By Ergin Garip

ISTANBUL (AA) - Smart water management systems maker Metito, which is active in 46 countries globally, acquired 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 on 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 were shareholders of Metito, he said Info Grup 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 investment in the country in other fields such as engineering, supply, construction and alternative energy, he underlined.

Turkey has changed incredibly in the recent years and it will continue to take steps for growth and investments in numerous areas, especially energy, substructure, mining, tourism, transportation and water, he highlighted.

He added that Turkey was an exciting market with its growing population and ongoing development.

Info Group cofounder Abdullah Uslu said the company regained 10 million square meters of water so far with its special systems.

"We aim to provide more productive service 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.