Murugappa Group firm to form JV with Japan's Organo Group

Diversified Murugappa Group firm Polutech Ltd will form a joint venture (JV) with Japan-based Organo Group for providing water treatment services in the industrial sector.
In the JV, Polutech Ltd would hold 51 per cent stake, the Chennai-based group said in a statement.
Organo Group is a leading player in the water treatment engineering services. The Tokyo-headquartered firm had registered turnover of Rs 35 billion in FY 2014-15.
Polutech is engaged in the water treatment engineering services, manufactures equipment and designing systems for water and waste water treatment plants for sugar, pharma, food & beverage industries.
"We are encouraged by the increased industrial activity in the country which has been buoyed by the philosophy of Make in India. Our services will fit the critical link in the process chain of industrial water usage -- both in the input side and in waste water segments," said Murugappa Group Vice-Chairman M M Murugappan.

He further added:" With water security becoming the critical need of industrial units, we expect this tie-up to address the growing demand of industries to recycle and reuse of water.