Arison's water venture gets name, launch date

Miya will be formally launched at the IWA World Water Congress in September.

15 June 08 16:50, Merav Ankori

Shari Arison's water venture, which has been operating for over 18 months, will get its official launch in September at the International Water Association's IWA World Water Congress and Exhibition 2008 in Vienna. The venture will be called "Miya".

"Globes" reported last month that the $100 million venture would focus on solutions for water pipeline leaks, a pressing problem in the industry. The venture is now organizing an international consortium and is rapidly acquiring companies for this purpose.

Ahead of the launch, Arison said that she wants to be a global leader in "the creation and development of solutions for realizing the flood of global water".

Arison Holdings Ltd. CEO Efrat Peled said in a press release that Miya was "founded as a significant growth engine for the activities of Arison Holdings. It is operating in a high-demand environment for which all projections predict only growth. Miya provides innovation and creativity for the water industry, which will generate substantial financial returns as well as growth in the global water supply for the benefit of people."

Miya president and CEO Baruch Oren said, "We're creating a major global business."

Published by Globes [online], Israel business news - www.globes-online.com - on June 15, 2008

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