Mainboard-listed United Envirotech, the membrane-based water and wastewater treatment solutions provider, says the group has exercised a call option to acquire the entire equity interest of Tongji Environmental (China), the holding company of Aton Environmental (Shenyang) Co., for RMB34.03 million ($6.9 million).
Aton has a 30-year Build-Operate-Transfer (BOT) concession agreement with the municipal authority to treat 50,000 cubic metres/day of wastewater. Located in Xinmin city in Liaoning province, United Envirotech says the close proximity to the group’s existing treatment plants and management team will facilitate the ability to oversee Aton’s operation. The treatment facilities have been valued at RMB69 million.
Meanwhile, through the acquisition, the group will also be able to expand its presence in Liaoning and provide potential opportunities for future upgrading and recycling using the group’s membrane technology. This project is the group’s third investment in the province.
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