VIVANT CORP. is diversifying into the water treatment business through a joint venture formed by its subsidiary and an Israeli company.
In a disclosure, the listed company said Vivant Hydrocore Holdings, Inc. signed a memorandum of agreement (MoA) with WaterMatic International Ltd. for the creation of a joint venture company.
The joint venture will be involved in the design, supply, installation, commissioning, operation, and maintenance of water treatment and waste water treatment plants.
“The signing of the MoA with an experienced company in the water and wastewater treatment business is part of Vivant’s endeavor to diversify its investment portfolio to include infrastructure,” Vivant said.
Vivant Hydrocore is a wholly owned subsidiary of Vivant InfraCore Holdings, Inc., which in turn is wholly owned by the listed parent company.
Watermatic, based in the town of Caesarea, Israel, specializes in providing water treatment solutions for a variety of needs including for industry, agriculture, and drinking water.
Vivant has interests in various companies engaged in electric power generation (both renewable and non-renewable energy), electric power distribution, and retail electricity supply business.
In the January to March period, Vivant’s net income attributable to parent grew 67% to P428.317 million.
Shares of Vivant Corp. on Thursday ended unchanged at P17.00 apiece. — Janina C. Lim