Arad Group News
3 articles
growth-positive
Arad completes acquisition of Italy's Watertech
Arad Group Ltd. has completed the acquisition of a 60% controlling interest in Italian company Watertech for €16 million. Watertech develops, manufactures, and distributes equipment for reading water meters, mainly in Italy. The acquisition is expected to contribute to Arad Groups growth. Arad Groups share price has risen 25% this year, reflecting a NIS 1.1 billion market cap.
Acquisition
growth-positive
Sabbath-observant meter keeps water flowing 24/7
Arad Technologies, an Israeli water tech company, has developed a glatt water meter that allows for smart metering while respecting the Sabbath in ultra-Orthodox neighborhoods. The smart meters help save water, prevent leaks, and save money for residents. Arad Technologies also collects data about usage habits and patterns, water safety and quality, and more. The company has developed apps for consumers to track water consumption and receive real-time alerts. The solution was approved by top rabbinical leaders in the ultra-Orthodox community. Arad Technologies is considering marketing the meters in ultra-Orthodox areas abroad. The company is a leader in water metering technology and has subsidiaries in China, the US, Spain, and Israel.
Customers
growth-positive
Arad Technologies and French co win India water deal
Arad Technologies Ltd. and Actaris Metering Systems have won a tender to provide 150,000 water meters to the Municipal Corporation of Greater Mumbai. The order is part of a $32 million project to install 300,000 water meters in Mumbai. Arad Technologies plans to participate in two other tenders in India and is considering moving some production there due to high demand. Winning this tender is seen as a breakthrough for Arad Technologies, opening up new market opportunities.
Customers
