Amiad Water Systems said it had bought out the remaining 40% of an Indian subsidiary it didn't already own from its local partner, for an undisclosed sum.

The subsidiary, Amiad Filtration Systems, would now be led by Milind Kothari.

'This investment reflects our belief in the sustained and growing market opportunity for Amiad in India,' chief executive Dori Ivzori said.

'Since establishing a presence in India in 2009, we have significantly expanded our business, including setting up production activity.'

'This acquisition is the natural next step to fully leverage what we have developed and to further consolidate our global position in the provision of water filtration and treatment solutions.'

At 3:04pm: (LON:AFS) Amiad Water Systems share price was +28p at 243p