Biwater Holdings quits UK regulated market
Biwater Holdings is to quitting the regulated UK water market, selling its UK subsidiary Biwater Services to MWH Constructors, the UK construction arm of environmental engineering, construction and strategic consulting services group MWH Global.
Biwater Services, with a staff of 675 employees, is the holding company for Biwater Treatment, Farrer Consulting and BiProduct Recovery.
Its sale will enable Biwater Holdings to focus on its core international business, and follows this summer's disposal of its interest in Cascal NV, the NYSE-listed operator of water and wastewater treatment plants.
Biwater and MWH are saying little about the deal, although Larry Magor, chief executive of Biwater Holdings said that the sale of Biwater Services to MWH Global "completes Biwater Holding's period of strategic realignment".
The addition of Biwater Services will expand MWH's existing UK presence.
Bernard Armstrong, the chairman of Biwater Services, said: "We believe that a combination with MWH Global enhances our strong position in the UK water market, and strengthens our service offering to our clients."
He added that the combined companies "will significantly benefit long-standing clients during the current and future AMP cycles".
MWH and Biwater
Services will have the ability to provide programme and asset management-led frameworks, enabling MWH to benefit from expected market changes and be responsive to future challenges.
Robert B Uhler, the chairman and CEO of MWH Global, explained: "Together, we provide a broader range of skills to address the creation, management and optimisation of existing wet infrastructure assets.
"This is especially relevant recognising changing, and sometimes conflicting, demands of energy, infrastructure rehabilitation, refurbishment, efficiency and carbon reduction."
Uhler continued: "We have enhanced our ability to service the full asset life cycle of our clients from feasibility through commissioning and operation."
And Uhler stressed that the combined organisation remains fully committed to their existing clients and current AMP5 contracts.