Pentair to sell off aquaculture interests
PENTAIR is to shut down part of its aquaculture business, the company announced at the beginning of the month.
The water treatment company said in a statement: ‘Pentair has made the decision to shut down portions of its aquaculture business, which provides service, equipment and technology for the aquaculture industry.
‘While we believe the aquaculture business offers attractive long term opportunities, the short term business model does not meet our expectations.’
The company, founded in the US, with its headquarters in Minneapolis, added: ‘Aquaculture is a small business within Pentair’s approximately $1 billion aquatic systems segment.’
It has begun the process to market and sell portions of the aquaculture business including Vaki, which it acquired in 2016, and its Chile operations.
‘We are dedicated to ensuring a smooth transition for our customers, and are committed to providing resources to help employees through the transition”, said the company.