The industrial group Georg Fischer is to increase its stake in a piping systems joint venture with Kubota Corp of Japan. The Swiss firm will up its share to 81 per cent from 50 per cent.This content was published on April 17, 2001 - 10:04
The existing joint venture, Kubota Georg Fischer, has been run as a 50/50 joint venture for the past 15 years and focused on the industrial and building technology markets.
Georg Fischer said in a statement that the joint venture had been profitable for many years and that annual sales had now reached about SFr50 million ($29 million).
The company hopes that increasing its stake will enable it to adapt faster to changing market needs in the local Japanese industrial and building technology markets in line with developments at Georg Fischer Piping Systems in Asia.
Kubota Georg Fischer will change its name to Georg Fischer.
swissinfo with agencies
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