© 2008 Cascal NV
15th November 2006The Cascal Group Acquires A Majority Shareholding In The China Water Company
On 15th November 2006, Cascal, a subsidiary of the Biwater Group, acquired a total of 87% of the shares in The China Water Company Limited from Thames Water, Sime Darby (Hong Kong) and two minority shareholders.China Water has offices in Hong Kong and Shanghai and it owns majority stakes in four water service companies in China which are based in Xinmin and Qitaihe (in the North), Yanjiao (near Beijing) and Fuzhou (in the South East). The water service companies are all joint ventures with local water companies or development zones.
The acquisition is a strategic move for Cascal which intends to use its water and wastewater management expertise to support and expand the activities of China Water in the fast growing Chinese water sector.
Stephane Richer, the Chief Executive of Cascal commented, “The Chinese water sector is developing rapidly. The business model which is being promoted by the authorities has evolved and fits very well with Cascal’s skills and as a consequence we are very excited by the prospects for growth in this market.”
The Biwater Group has had a presence in China as a process contractor for many years; this acquisition will expand the Group’s interests into water and wastewater services.
For more information about Cascal or Biwater please visit www.cascal.co.uk or www.biwater.com
For more information please send an e-mail to the Marketing Manager,
enquiries@cascal.co.uk