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| Wednesday, 24 September 2014, 10:08 HKT/SGT | |
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HONG KONG, Sept 24, 2014 - (ACN Newswire) - Sound Global Ltd. ("Sound Global", or the "Company"; Hong Kong Stock Code: 967) is pleased to announce that the Company has acquired the entire equity interest in Shandong Chengwu Yingyuan Industrial Co., Ltd. (a subsidiary of Fujian Yingyuan Group) together with the sewage treatment concession for the remaining 30 years of the urban sewage treatment plant in operation in Chengwu County. The consideration for the equity transfer was RMB47.8 million.
The urban sewage treatment project in Chengwu County was invested, constructed and operated by Shandong Chengwu Yingyuan Industrial Co., Ltd in the form of BOT project. The sewage treatment plant has a sewage treatment capacity of 40,000 tonnes/day, and adopts Carrousel Oxidation Ditch Biological Treatment Process. It was designed and operated to discharge water which meets the first class-A grade standard as specified in "Pollutants Emission Standards of Urban Sewage Water Treatment Plant" (GB18918-2002). The project mainly deals with domestic sewage and certain industrial sewage in the urban area. As the region develops towards industrialization and urbanization, the urban population is expected to grow which in turn will bring brighter growth prospect for sewage treatment volume and profitability of the project.
Meanwhile, Fujian Yingyuan Group also owns and operates other BOT sewage treatment facilities in Fuzhou and Quanzhou. The deal of Shandong Chengwu project will mark the first step towards future extensive cooperation between Sound Global and Fujian Yingyuan Group. Both parties are expected to enter into intensive cooperation on other regional environmental projects in Fujian.
About Sound Global Ltd.
Sound Global is the leading one-stop integrated water and wastewater treatment solutions providers in the PRC. The Company offers services covering the full value chain of the water and wastewater treatment industry - from the design and construction of water and wastewater treatment facilities, to the operation and maintenance of water and wastewater treatment facilities and the manufacture of water and wastewater treatment equipment. With advantages in technology, capital, management and whole industry chain, Sound Global has earned a high reputation within the water industry for its excellence since its founding. The Company has very extensive business networks covering all major provinces in PRC. On top of coverage in domestic market, sound global has also penetrated into overseas market in 2009 and continued expanding its business presence internationally. Sound Global is the first Chinese water enterprise that successfully won the bid for the overseas water project.
The Company places significant emphasis on its in-house design capability and the innovative adaptation and application of technologies to offer customized, cost-effective and practical solutions for the diverse challenges presented by the treatment of municipal and industrial water and wastewater. With strong R&D and technical capacity, Sound Global could provide wastewater treatment solution for all major industries, particularly coking, metallurgy and petrochemical industries who demand highly sophisticated wastewater treatment technologies.
In 2011, Sound Global expanded into the markets of environmental management in China's suburban-rural areas. Sound Global researched and developed a new program -- the "Sound Global SMART(1) Solution for wastewater treatment in Small Townships". This program was implemented in 18 bundled wastewater treatment projects in Changsha County of Hunan Province. This integrated wastewater treatment programs, developed by Sound Global, established successful models for wastewater treatment in suburban-rural areas of China.
(1)Small & Skillful, Multiple & Modular, Active & Automatic, Rapid and Technologic
Topic: Press release summary
Sectors: Daily Finance, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
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