Chinese water filtration company Newater Technology Inc. (Nasdaq: NEWA) has announced that it will acquire 100% of Israeli water filtration company AMS Technologies for $13.5 million. The acquisition agreement was signed in in the Chinese city of Yantai last week..
Newater is a service provider and manufacturer of membrane filtration equipment and related hardware and engineered systems that are used in the treatment, recycling and discharge of wastewater. Based in Or Yehuda, AMS develops and markets chemically and thermally stable and resistant ultrafiltration and nano-filtration special membrane materials used in wastewater treatment.
Through this strategic acquisition and additional partnerships, NEWA believes it will realize vertical supply chain integration from the preparation of special membrane materials, to the production of membrane elements, to the manufacturing and assembling of the membrane equipment and projects.
Newater chairman and CEO Yuebiao Li said, "By acquiring a company with a leading international membrane materials manufacturing and development technology, Chinese companies have the opportunity to catch up with globally leading companies in membrane materials technology. We believe AMS is one of the few companies in the world that can offer innovative acid-stable, alkaline-stable and solvent stable nano-filtration and ultrafiltration membranes that can be applied in different industries. Its innovative technology can help fill the gap in current Chinese domestic technology."
He added, "After the merger, NEWA plans to promote the special membrane separation technology by establishing demonstration projects in different fields, and accelerating the preparation and application of the special membrane-based separation solution technology in wastewater treatment in China."
Published by Globes, Israel business news - en.globes.co.il - on December 3, 2018
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