The signing ceremony, which was held at the Intercontinental Landmark Hotel in Hanoi on June 29, was attended by executives from both companies, including Samsung Engineering Executive Vice President GyuYeon Kang and DNP Water Chairman Ngo Duc Vu.
With this acquisition, Samsung Engineering now holds a 24% stake in DNP Water while DNP Holding holds a 53% stake and other stakeholders will hold 23%.
DNP Water is a private enterprise that focuses on local water supply businesses in Vietnam and is the largest private water treatment company in Vietnam in terms of treatment capacity.
Samsung Engineering has confidence that the company's rich EPC experience and global technology expertise in the water treatment field, as well as DNP Water’s experience and network in Vietnam’s water supply businesses, could create synergy in future business executions.
A clean water plant in Bac Giang, one of the largest plants of its kind in Vietnam, implemented by DNP Water in the 2017-2018 period.
The stake in DNP Water enables Samsung Engineering to have access to Vietnam's water and sewage treatment businesses and therefore can expand businessesin this important market. Further, based on such regional competitiveness, Samsung Engineering plans to expand its business into Vietnam’s sewage treatment,and will further expand the model applied in Vietnam to neighbouring Asian countries.
“Aligned with the recent global Environmental, Social, and Governance (ESG) trend, our environmental business is positioned as one of our company’s future growth engines,” said Executive Vice President GyuYeon Kang.
He added that “Samsung Engineering plans further to expedite and grow in the global environmental markets, such as in Asia, by setting an example with the successful execution of our environmental business in Vietnam.”
