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GERMANY’S BILFINGER SELLS WATER TECHNOLOGIES DIVISION TO CHENGDU’S TECHCENT
On the 8th February 2016, The Global Construction Review website reported, ‘The German engineering group Bilfinger has sold its Water Technologies division to China’s Chengdu Techcent Environment Group’.
The article stated, “The deal should be finalised in the first quarter of 2016, and will earn Bilfinger net proceeds of $220m.The sale was prompted by Bilfinger’s ‘strategic repositioning’ and portfolio review.” A number of options were considered for the water division, but the final decision was that a sale offered the best results over the long term. Per Utnegaard, Bilfinger’s executive chairman said, “We are pleased that our successful water business has found such a financially strong and long-term oriented buyer.” “The move to a company in which water technology is the focus of business operations opens up excellent development prospects for Water Technologies.” The Water Technologies division employs around 1,600 staff and generated an output volume of $330m in 2015.
Investinchengdu.com congratulates Techent on the acquisition and this demonstrates the keen interest German companies have exhibited towards Chengdu. Furthermore, environmental, waste and water management industries are thriving industries within Western China and those professionals and enterprises, with proven patents and processes, that have the ‘first mover advantage’ may reap significant economic rewards. In Bilfinger’s case it was its water treatment patented technologies that appealed to a prospective client and provided a valuable windfall.
German companies have for a reasonable period played a fundamental role within China, especially within Tianjing and more recently Chengdu. German corporations like VW, Bosch and many others have eyed Chengdu as their stepping stone for Western China. We very clearly recall in July 2014 when Chancellor Merkel commenced her China trip, her first port of call was Chengdu. Please see below for further information of the German Industry and Commerce contacts in Chengdu.
Finally, with the recent murmurings from the 2016 Hannover Fair, many Chengdu and Sichuan business people were gobsmacked by the breath of German technology and talent on show, and fully comprehend German professionals and enterprises have a fundamental role to play in driving the new innovation and research driven Chengdu, Sichuan and Western China economies.
Disclaimer: The above article was summarised from various sources (hyperlinked) and added commentary provided by investinchnegdu.com and further links for added information.