Pen­tair to sell off aqua­cul­ture in­ter­ests

Fish Farmer - - World News -

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.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.