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Hitachi Zosen to purchase Dubai electrochemicals company Cumberland
T he Dubai-based electrochemicals company Cumberland is being acquired by Hitachi Zosen (Hitz) through a purchase of its UK-based parent firm.
The Japanese engineering conglomerate said that it had agreed on June 24 with Cumberland Group to acquire the shares of its four companies, which encompass its headquarters in Dubai, together with its engineering, sales and technical support offices in the UK, Singapore and India.
The value of the transaction was not disclosed.
A statement from Cumberland said its existing management will remain in place, with no redundancies planned following the acquisition.
“We are extremely pleased to join Hitachi Zosen,” said Alistair Munro, Cumberland’s chief executive. “[The] acquisition by Hitz provides excellent synergies and will serve to accelerate our delivery of innovative and energy-efficient electro-chlorination services to the power and desalination, water and wastewater treatment, petrochemical, oil and gas and marine industries”.
Hitz said the transaction would integrate Cumberland’s operations with its large-scale seawater electrolysis business.
“Cumberland, with its cutting-edge electro-chlorination technology, has rapidly established itself as an industry leader in the growing global power, oil and gas industry,” Hitz said in a statement.
“We have researched the sector globally and believe that in Cumberland, we have chosen the best partner with which to bring our products and services to an international market.”