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Wipro Shelves Plan to Sell Water Treatment Business, Mint Says
Wipro Ltd. (WPRO) has put aside plans to sell its water treatment business after the company failed to find any buyers, the Mint reported, citing two people involved in the sale.
The water treatment business, a unit of Wipro Infrastructure Engineering, was acquired from Aquatech Industries Ltd. in 2008, the Mint said. Since then, the company has explored the sale of the business at least twice, it said.
The market for water treatment in India is expanding at least 18 percent annually and is now almost $420 million, the Delhi-based publication said, citing EA Water Pvt., which tracks the industry.
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