Jiaohe Jiaxin Water Co.

Aug 28, 2017

SG-listed Chinese water treatment firm SIIC buys Jiaohe Jiaxin for $14.3m Visual from Pixabay Tanu Pandey August 28, 2017 Singapore-listed SIIC Environment Holdings Ltd , which operates in China’s water and environmental markets, has acquired waste water treatment and environmental protection company Jiaohe Jiaxin Water Co Ltd for $14.3 million (RMB 95 million). The 100 per cent acquisition took place through SIIC’s subsidiary Longjiang Environmental Protection Group, which had entered into a share transfer agreement with GS-Licon (China) Envirotech Inc, to acquire the entire issued and paid-up share capital of Jiaohe Jiaxin, SIIC said, in an announcement on Monday. Jiaohe Jiaxin, engaged in environmental protection, waste water treatment, technology development and technical services, is currently undertaking a 30-year build-operate-transfer wastewater treatment project. The total wastewater treatment design capacity is 30,000 tonne/day. It has received new business licences on August 18 from Jiaohe Municipal Bureau of Market Supervision and Administration, Jilin Province. SIIC, a prominent player in water treatment, water supply, solid waste treatment and other environment-related businesses, was known as Asia Water Technology Ltd. In 2010, Shanghai Industrial Holdings Ltd acquired a controlling stake and completed debt restructuring in the firm and renamed it to SIIC Environment. Since the restructuring, SIIC Environment has continued to increase its market share in China’s water and environmental sector. In fact, the company has performed positive on the financial front as well. The latest financials for the second quarter ended June 30, reported that SIIC fared well in all its segments in the second quarter, expanding profits by 18.5 per cent to S$24.5 million and a 78.9 per cent jump in revenue during the second quarter. Currently, it has an overall portfolio of over 123 water treatment and supply projects and four waste incineration projects across 18 municipalities and provinces in China, namely Shandong, Guangdong, Hubei, Hunan, Jiangsu, Shanghai, Zhejiang, Jiangxi, Anhui, Fujian, Guangxi, Ningxia, Henan, Liaoning, Inner Mongolia, Shanxi, Sichuan and Heilongjiang. Also Read: