The Arad Group, a global leader in the development of smart water technology and owner of Texas-based Master Meter, Inc., is set to become a majority shareholder of a Mexico-based water company, according to Bloomberg Businessweek. Currently, the smart water group generates approximately 80 percent of annual sales outside of its Israel roots. The agreement to purchase more than 50 percent of the Mexican company could land the Arad Group $10 million in profits by Q1 2014.
Helping the industry expand below the border
The water economy is the second-largest industry in Mexico, according to Chairman at the Arad Group Hugo Chaufan, and Arad Group has been bolstering its presence in the region. As these notable measurement technology companies work feverishly to solidify the final phases of acquisition, Chaufan said the prospect of expanding water management products to Mexico is an exciting prospect.