KHD Humboldt Wedag International AG: Partnership With CATIC Beijing of China Creates New Growth Opportunities
By Khd Humboldt Wedag International Ag, PRNESunday, February 20, 2011
COLOGNE, Germany, February 21, 2011 - KHD Humboldt Wedag International AG, one of the leading
suppliers of industrial plants and services for the global cement industry,
has successfully completed its capital increase. Raising share capital by EUR
16,561,021 to EUR 49,703,573 was one of the main pre-requisites for the
partnership with Chinese state-owned CATIC Beijing Co. Ltd. The conclusion of
the capital increase and CATIC's resulting 20% equity holding (through Max
Glory Industries Ltd.) clears the way for the two companies to expand their
global business together.
KHD and CATIC will now be able to offer selected competitive
turn-key solutions for the cement industry. By combining the strengths of
KHD's technology and CATIC's construction experience and competitive cost
platform. Until now CATIC has been working mostly with Asian partners for
non-CATIC technology. KHD adds strong process knowledge, engineering "made in
Germany", equipment design and over 150 years of cement industry experience
to the partnership. This strengthens both companies' position as a provider
of competitive turn-key cement plants, and consequently their collective
market presence.
The partnership with CATIC also allows KHD to tap into the
huge growth potential in China. "The Chinese government is actively pushing
for more environmentally friendly technologies and products and with our
innovative and energy-efficient technologies we are striving to gain a strong
portion of this market," explains KHD CEO Jouni Salo. CATIC Beijing CEO Diao
Weicheng also sees the partnership as the basis for long-term success for
both companies. "Working with KHD means that we can increase our cement
activities and we are now in the position to bid on projects, which were
closed to us in the past."
Investor Relations cometis AG Susanne Gremmler Tel.: +49(0)611-205855-23 E-Mail: gremmler@cometis.de
Investor Relations: cometis AG, Susanne Gremmler, Tel.: +49(0)611-205855-23, E-Mail: gremmler at cometis.de
Tags: China, Cologne, February 21, Germany, Khd Humboldt Wedag International Ag