17 Nov 2013
Everbright International Acquires Lianyungang Suzukigumi Waste Treatment Co., Ltd.
Enters Medical Waste Treatment Business17 November 2013, Hong Kong - China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) announces that it has signed an Equity Transfer Agreement for Lianyungang Suzukigumi Waste Treatment Co., Ltd. with Suzukigumi Co., Ltd of Japan, to acquire a 100% equity interest in Lianyungang Suzukigumi Waste Co., Ltd.. The Group has also obtained an "Industrial Hazardous Waste Treatment Certificate" and an exclusive "Medical Waste Treatment Certificate" from Lianyungang City issued by the Environmental Protection Department of Jiangsu Province. Upon completion of the acquisition, the Lianyungang Hazardous Waste Treatment Project ("Lianyungang Project" or the "Project") will be the Group's first operating hazardous waste incineration project as well as its first medical waste treatment project, marking another milestone for the Group's business.
Everbright International aims to introduce advanced management and technology to the Lianyungang Project, it will upgrade the facilities, increase the treatment capability and quality, and improve management. Following the upgrades, the Project's annual industrial hazardous waste treatment capacity will reach 9,000 tonnes and its gas emission standard will be enhanced to meet the Euro 2000 standard. At the same time, the annual medical waste treatment capacity will reach 1,650 tonnes. The total investment of the acquisition and upgrades of Lianyungang Project is approximately RMB 80.24million.
Including the Lianyungang Project, Everbright International has obtained four hazardous solid waste treatment projects in northern Jiangsu, making a total of eight similar projects and forming a new business segment for the Group. The Project is conveniently located near the Group's other hazardous solid waste landfill projects in Guanyun, Lianyungang and Binhai, Yancheng, to take advantage of the synergy and clustering effect and to help save management costs.
Mr. Chen Xiaoping, CEO of Everbright International, said, "The Lianyungang Project highlights the Group's new strategy of expanding its business through acquisition, and is also a significant step towards entering the medical waste treatment sector. As Everbright International's first operating hazardous solid waste incineration project, it will provide valuable experience for the construction of the Zibo Hazardous Waste Treatment Project in Shandong Province. As market demand continues to rise, the medical waste treatment business has bright prospects. The Group will seize this opportunity to expand our business, further enhance the Group's status in the hazardous waste treatment industry and strengthen the Group's core competitiveness."