(4 June, 2015, Hong Kong) China Water Affairs Group Limited (¡§China Water Affairs¡¨ or the ¡§Company¡¨, together with its subsidiaries known as the ¡§Group¡¨) (stock code: 0855.HK), a leading integrated water service provider in China, is pleased to announce that, on 3 June 2015, the Company successfully completed the acquisition of 100% interest in Goldtrust Water Holdings Ltd. (¡§Goldtrust¡¨).
The acquisition, upon completion, immediately increased the Group¡¦s overall water supply and sewage treatment capacity
by 12% to 6.07 Mn tons per day. The acquisition not only expanded the Group¡¦s water affairs businesses coverage in Shandong and Shaanxi and increased the Company¡¦s business scale, but will also increase the Company¡¦s market share and brand awareness in Guangdong and Jiangsu and create synergies with other existing water affairs projects of the Company in these two areas, laying a solid foundation for a sustainable development of the Group in the water treatment industry in China.
Speaking of the acquisition, Mr. Duan Chuanliang, Chairman of China Water Affairs, said, ¡§This acquisition set a milestone in the Group¡¦s development history with fast acquisition.¡¨
Goldtrust¡¦s experience and achievements in municipal drainage pipe network O&M projects will open a new line of business for the Group in the O&M projects and strengthen the Group¡¦s ability in the development of high value added industrial waste water treatment business.
Mr. Duan Chuanliang, added, ¡§On 22 May, the State Council issued No. 42 guideline to promote the public-private partnership (¡§PPP¡¨) in public services. The guideline clarifies the central government¡¦s policy to comprehensively and profoundly promote the reform in the public services sector. We will leverage the golden opportunity for the growth of water business, scale up the investment and contribute to the economic development of the country. We believe our efforts would improve the people¡¦s living standards and ensure safety of the drinking water for the welfare of the society.¡¨
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About China Water Affairs Group Limited
China Water Affairs Group Limited is principally engaged in waterworks investment and operations as well as other related businesses in the PRC. The Group¡¦s businesses include urban water supply, water supply systems management, meter installation and related value-added businesses. Currently, the Group is undergoing rapid development, with operations being extended to over 30 cities in various provinces and municipal
ity including Hunan, Henan, Hainan, Jiangsu, Jiangxi, Hubei, Guangdong, Chongqing and Shanxi. With a well-established cooperative relationship with various local water authorities, the Group has achieved a leading position in the PRC water industry.
This press release is issued by PRChina Limited on behalf of China Water Affairs Group Limited.
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