Ion Exchange (India) Limited, leaders in water and environment management having a strong international presence has signed a joint venture agreement with ALTX– listed company, Safic, a wholly owned division of Accentuate Limited, South Africa. The new joint venture will market water treatment equipment, chemical and resin products throughout South Africa and SADC.
Safic, established in 1981, develops world class chemical products for industry and commercial processes and solutions, some of which are water-based. Safic has won numerous awards and accolades for its environmental protection efforts including the Mail and Guardian "Greening the Future Award", and a chemical safety award two years in a row - the only South African company to have ever achieved the same.
Fred Platt, CEO of Accentuate Limited says “The JV will be able to leverage Accentuate’s infrastructure and chemical distribution ambitions. The types of challenges South Africa and India face in terms of water are also similar, such as rural water quality and a lack of water infrastructure. A lot of solutions developed in India could be much better fit for South African conditions than those developed in Europe.”
Ion Exchange India’s Chairman & Managing Director, Rajesh Sharma states, “Both our companies are ISO 9001 and 14001 as well as OHSAS 18001 certified, sharing values of good manufacturing practices, quality and service as well as employee health, safety and commitment to the environment. One of the objectives of this partnership is to enter new market segments and have a greater market share for our water treatment business in this region.” He adds that the JV wants to secure 5% to 7% of the South African water treatment market over the next three years and estimates the South African market to be roughly valued at R 10 billion a year.
Safic will use its vast client network to assist Ion Exchange offer one stop water management - supply and treatment solutions to its customers. It will also offer Ion Exchange administrative, logistical and regulatory support on the ground in South Africa.
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