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- Mitsui & Co., Ltd.
Corporate Communications Division
Mitsui & Co., Ltd. ("Mitsui") (Head Office: Ohtemachi, Chiyoda-ku, Tokyo; CEO: Shoei Utsuda) today announced that Mitsui, jointly with Toyo Engineering Corporation ("Toyo") (Head Office: Narashino-City, Chiba; CEO: Yutaka Yamada), has acquired 100% of the shares of Earth Tech Mexican Holdings, S.A. de C.V. ("Earth Tech Mexico"), a leading water/wastewater treatment engineering and construction company located in Mexico, from AECOM Technology Corporation, a U.S. based leading engineering company ("AECOM"). Mitsui acquired 85% of the shares, and the remaining 15% of shares were purchased by Toyo.
Earth Tech Mexico specializes in industrial and municipal water/wastewater treatment plants primarily through its participation in DB/DBO (design, build and operate) and DBFO (design, build, finance and operate) projects. Earth Tech Mexico currently owns and operates a number of industrial and municipal waste water treatment facilities in Mexico, including several plants for Pemex and Queretaro State that are jointly owned with Mitsui.
It is projected that the water sector, including water projects structured in the form of private and public-private initiatives, will grow on a global basis due to strong global demand for clean water and increasingly stringent environmental requirement. Mitsui anticipates that its expertise in the development of international infrastructure projects and its global network for providing services to its customers combined with Toyo's capability in integrated engineering solutions will enhance the business opportunities of the acquired company, both in Mexico and globally.
Mitsui and Toyo, will position the newly acquired company as a proactive water business developer by being involved in the overall water business cycle, from the design, build, operation, and financing of water/wastewater treatment plants to overall project development and management.
|Name of acquired company||Earth Tech Mexican Holdings, S.A. de C.V.|
|Location||Nuevo Leon, Mexico (near Monterrey)|
|Business||Design, build, and operation of water/waste water treatment plants, project development and equity investment|
|Net worth||Approx. US$40 million|
This press release includes forward-looking statements about Mitsui. These forward-looking statements are based on the current assumptions and beliefs of Mitsui in light of the information currently available to it, and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. The risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest annual report on Form 20-F, which has been filed with the U.S. Securities and Exchange Commission.
This press release is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.