Wangneng Environment Co.,Ltd agreed to acquire Sludge harmless treatment business asset department of Huzhou Nantaihu Thermal Power Co., Ltd.
April 28, 2020
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Wangneng Environment Co.,Ltd (SZSE:002034) agreed to acquire Sludge harmless treatment business asset department of Huzhou Nantaihu Thermal Power Co., Ltd. on April 27, 2020. The consideration will be paid in cash. Wangneng Environment Co.,Ltd will pay the transaction price through its own funds and bank loans and pays according to the transaction progress to ensure the success of the transaction. As of December 31, 2019, Sludge harmless treatment business asset, reported revenue of CNY 36 million, net asset of CNY 18.7 million, total asset of CNY 38.8 million, operating income of CNY 13.4 million and net income of CNY 10 million.
WANGNENG ENVIRONMENT CO LTD, formerly Zhejiang Mizuda Printing & Dyeing Group Co Ltd, is a China-based company principally engaged in the disposal of urban solid waste, as well as the investment, construction and operation of related environmental industry. The Companyâs businesses include the operation of domestic and kitchen waste projects, sludge disposal, environmental protection equipment installation and house leasing business. The Company is also involved in the provision of development, consultation services of environmental treatment technologies.