United Envirotech, the membrane-based water and wastewater treatment solutions provider, says it has acquired a 40% stake in Maxrise Envirogroup for RMB100 million ($18.9 million).
Through the acquisition, the group will hold equity interests of four water treatment plants in Bazhou, Mengzhou and Jiangle cities, China.
Upon completion of the second phase of expansion for the Mengzhou Shengfang municipal wastewater treatment plant at 25,000 m3/day; the aggregate treatment capacity of the 4 water treatment plants will reach 170,000 m3/day.
The other 60% of the Maxrise is held by Memstar Technology, also an SGX- listed company that specialises in the manufacture and application of hollow fiber membranes and membrane products.
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