Strauss To Expand Water Cooperation With China’s Haier

January 15, 2015 | The Israeli food manufacturer Strauss Group announced that it will expand its cooperation with China’s Haier in water purification. Strauss reports that the companies signed a Memorandum of Understanding that will see the reorganization of their business, according to which Strauss will pay Haier NIS 30 million (approx. $7.6 million) for a 34 percent stake in the joint venture, as well as for the licensing to use Strauss-invented water purification technology in their water systems sold in China. The deal to establish a joint venture between the companies was originally signed in 2010, when Strauss signed an agreement with Haier Group to establish a joint water venture, with each of the sides paying $20 million.