Water Diplomat News Logo
Water Diplomat Logo
Water Diplomat News Logo

Rand Water Subsidiary "Cannibalized" From Parent Company

This is only an excerpt! Sign up for a free trial to receive CURRENT Daily Water Briefings or Weekly Water Newsletters. License Holders sign in to read the full text.

SOUTH AFRICA, JOHANNESBURG

Rand Water Services, a subsidiary of Rand Water, has "cannibalized" sales from its parent company in order to post a net profit for the last year, according to a presentation by CEO Percy Sechemane to Rand Water's board. According to Sechemane, Rand Water Services "hijacked" Rand Water's own technologies, "selling our own ideas, concepts, etc. back to us at a higher rate."