Metito announces spinoff of its core business lines
RIYADH, 4 days ago
Metito, a leading provider of intelligent water management solutions,is launching a major restructuring initiative through the spinoff of its core business lines into three independent group companies - Metito Utilities, Metipro and Metichem - as part of its new growth strategy.
Announcing the reorganisation of its core business lines, Metito said the move will help accelerate growth and streamline operations as part of its broader plan to drive innovation and profitability across its specialized sectors.
On Metito Utilities, the firm said it has been historically operating as an independent group company, and will continue its business in investment, development, and long-term operation and maintenance of water and wastewater concessions.
Metito Water Projects (Metipro) will continue focusing on high-value engineering, design and build solutions tailored to water infrastructure developments and urban water needs.
Metito Chemical Solutions (Metichem) will continue providing advanced water treatment chemicals, operation and maintenance and customer-service engineered packages.
Announcing this, Group Chairman Mutaz Ghandour said it has been at the forefront of the water and wastewater industry for decades.
"This marks a pivotal moment in our journey, and our commitment to addressing water scarcity and developing advanced water solutions for the communities we serve remains our top priority and allows each independent company to focus on its core strengths while drawing on our extensive experience," he noted.
Ghandour pointed out that this restructuring of core business lines into three standalone group companies will help each entity to concentrate on its core expertise and growth prospects.
"It will enable each business line to pursue focused growth strategies while maintaining the expertise and operational excellence that have defined the utility major's legacy in the water sector for the past 66 years," he added.-TradeArabia News Service
