Suez has announced the expansion of its partnership with NWS Holdings Ltd, enlarging their cooperation to all the businesses of the Group – Water, Recycling & Recovery – in China, within their single entity. At the closing of the transaction, Suez will hold a 58 percent stake in this joint‐venture (JV) company.
Global water- and waste management and services major Suez has announced the expansion of its long‐standing partnership with NWS Holdings Limited (NWS Holdings), enlarging their cooperation to incorporate all the businesses of the Group – Water, Recycling & Recovery – in China, within their single entity. At the closing of the transition, Suez will hold a 58 percent stake in this joint‐venture (JV) company.
According to a statement, the partnership will strengthen the development of the Group in mainland China, Hong Kong, Macao and Taiwan, a zone with “high‐growth” potential. Under the terms of this transaction, Suez will contribute its Recycling & Recovery, as well as its Construction businesses into Sino‐French Holdings (SFH), and SFH will make a cash receipt to Suez of approximately EUR 50 million. This transaction is due to be finalised in or around December 2016.
With 8 000 employees at work in China’s biggest cities, the Group has an established presence. In2015, it posted revenues of EUR 1.2 billion in the country. The Group supplies drinking water to almost 20 million inhabitants, it has a prominent position in waste management in Hong Kong since 1998 and it provides its expertise in the management of environmental services to 11 industrial parks. Through Sino‐French Holdings, Suez and NWS Holdings, partners since 1985, will also generate additional commercial and operational synergies.
– We are proud of this high added value operation for our Chinese customers concluded with NWS
Holdings. In the last 30 years, our partnerships have enabled us to support an increasing number of local authorities and industrial manufacturers in their implementation of solutions that are adapted to climate change and the sustainable management of resources. With this single entity, we will go even further in the environmental transition of China, declared Jean‐Louis Chaussade, CEO of Suez in a statement.