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China Industrial Waste Management, Inc. Acquires 65% Interest of Hunan Hanyang Environmental Protection Science & Technology Co., Ltd.

Publication: PR Newswire
Publication Date: 22-SEP-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
DALIAN, China, Sept. 22 /PRNewswire-Asia/ -- China Industrial Waste Management, Inc. (BULLETIN BOARD: CIWT) ("China Industrial Waste Management" or the "Company"), a PRC-based industrial waste processor and provider of environmental protection, pollution treatment and waste management design services, announced today that the Company's 90%-owned subsidiary, Dalian Dongtai Industrial Waste Treatment Co., Ltd. ("Dalian Dongtai") has signed with Hunan Luyi Industrial Development Co., Ltd ("Hunan Luyi") and Ms. Song Wenling to acquire 65% interest of Hunan Hanyang Environmental Protection Science & Technology Co., Ltd. ("Hunan Hanyang") for RMB15 million (approximately $2.2 million) in cash on September 18, 2009. After the transaction, Dalian Dongtai and Hunan Luyi will hold 65% and 35% of the equity interest in Hunan Hanyang, respectively.

Headquartered in Changsha, the capital city of Hunan Province, Hunan Hanyang is engaged in the business of treatment and comprehensive utilization of waste and the management and operation of waste treatment facilities. In 2006, Hunan Hanyang signed a BOT...

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