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## TORAY TAKES 20% STAKE IN SUIDO KIKO Toray Industries Inc has formed a business alliance with water treatment equipment maker Suido Kiko Kaisha Ltd by acquiring 20% of Suido Kiko's outstanding shares, according to a report in The Nikkei Business Daily. Toray hopes to exploit Suido Kiko's technology to expand its orders for water and sewage treatment facilities both domestically and overseas. Toray makes membranes used in seawater desalination, as well as nanofiltration and ultrafiltration membranes. In a medium-term business plan released in April, it views environmental activities as a strategic business area. It aims to boost revenues from its water treatment business from ¥20 billion in fiscal 2001 to ¥50 billion in three years. Suido Kiko made a group pre-tax loss of ¥672 million in the year ended 31 March 2002 as a result of cutbacks in public works spending.
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- Publisher
- Elsevier Science; Elsevier ; Elsevier BV (ISSN 1365-6937)
- Published
- 2002
- Language
- EN
- Field
- Engineering (Physical Sciences)