Asahi Tec To Sell Water Treatment Subsidiary To Nippon Mirai Capital

Asahi Tec Corporation, a major manufacturer of malleable iron casting products, announced that it will sell all shares in its consolidated subsidiary, Asahi Tec Environment Solution Company (ATES) to Nippon Mirai Capital, a Tokyo-based private equity firm. By divesting ATES which manufactures and markets water supply and sewerage equipment and water treatment devices,
Asahi Tec will focus on its automobile business to deal with robust demands from developing countries.