Cumberland acquired by Japanese Hitachi Zosen Corporation (Hitz)
Cumberland, a world leading electrochemical company with its headquarters in Dubai, announced today that it has been acquired by Hitachi Zosen Corporate (Hitz), a Japanese giant in the engineering sector, listed on the Tokyo Stock Exchange. Hitz had revenue of Yen 333.4 billion for year ending 31st March 2014.
The first merger in the sector to see a Japanese firm acquire a Middle Eastern company will provide Hitz with direct access to the European and MENA regions, whilst Cumberland will benefit from the wider product portfolio of Hitz and enhanced financial resources.
Cumberland will continue operations from its headquarters in Dubai, UAE, and from its engineering, sales and technical support offices in the UK, Singapore and India. CEO, Alistair Munro, and the existing Cumberland management team will remain in place, and no redundancies are planned following the merger. Cumberland’s clients will continue to receive top quality services and support whilst also benefiting from its new global scale and an extended product range.
“We are extremely pleased to join Hitachi Zosen.” said Alistair Munro, CEO of Cumberland. “Cumberland was founded in the United Kingdom in 1949 and is now part of a $4 billion organisation with vast manufacturing, R&D and commercial resources. 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 & gas and marine industries”.
“Our cell technology is the culmination of our dedication to continuing product development, engineering excellence and quality assurance procedures. It is the dedication to this quality that has enabled us to enter into a relationship with a world-class organisation such as Hitachi Zosen.”
Hitachi Zosen Corporation commented: “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. 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.”
Cumberland’s world renowned PANCLOR™, ELCHLOR™ and NATCHLOR™ brands of electrolysers and systems are installed in hundreds of locations throughout the world providing environmentally safe on site disinfection for a variety of applications. Cumberland electrolysers are the most efficient in the industry based on advanced coating technology therefore minimizing the power consumption requirement for the generation on site of the disinfecting agents. On site generation by electrochlorination is safe and minimizes the transportation and storage of hazardous materials such as chlorine gas or the chemicals required for production of chlorine dioxide.
Nicola Hooper, Associate Partner at Bell Pottinger:
Email: [email protected]
Tel: 00971 558862254
Harriet Daly, Consultant at Bell Pottinger:
Email: [email protected]
Tel: 00971 554593260