Japan-based Kurita Water Industries, founded in 1949, announced on Tuesday that the firm will be splitting and Land Solutions, a wholly owned subsidiary of Kurita, will overtake Kurita’s soil and groundwater remediation business.
According to a press release launched by Kurita, “Land Solution’s succession to the business will result in the consolidation of management resources and the development of a structure for quickly meeting customer needs and will also facilitate the expansion and sustainable growth of this business through the provision of optimal solutions to customers.”
The company has also revealed that no allocation of shares or other payment will be made for the company split and there will be no increase or decrease in the firm’s share capital.
Kurita has also announced that it will not be changing its name or business description with this transaction.
Kurita is one of the global market leaders in industrial water and process treatment with over 52 international branches and subsidiaries.
Kurita’s most relevant business activities revolve around solving water management issues, realizing sustainable energy use, reducing waste, and advancing industrial production technologies.