Home > Boards > US Listed > Miscellaneous > Newater Technology Inc (NEWA)

big news

Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (2) | Next 10 | Previous | Next
kazzz3 Member Profile
 
Followed By 11
Posts 2,785
Boards Moderated 0
Alias Born 10/27/06
160x600 placeholder
kazzz3   Monday, 12/03/18 09:13:37 AM
Re: None
Post # of 71 
big news

YANTAI, CHINA / ACCESSWIRE / December 1, 2018 / Newater Technology, Inc. (NEWA) ("NEWA", "we," "our" or the "Company"), 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, today announced it will acquire 100% of the equity of Israeli AMS Technologies Int. (2012) Ltd ("AMS"), and the signing ceremony for the acquisition was held in Yantai on November 28, 2018. The Company was listed on the Nasdaq Capital Market in 2017 and believes this is a significant step to expand into the global market.

NEWA will acquire 100% equity of AMS, a company that develops and markets chemically and thermally stable and resistant ultrafiltration and nanofiltration special membrane materials used in wastewater treatment. The total contract amount for this acquisition is approximately $13.5 million. The Company will acquire AMS with its working capital. The acquisition agreement was signed on November 28, 2018. All the due diligence has been completed and closing of the transaction is expected to occur in March 2019. 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.

The Company's Chairman and CEO, Mr. Yuebiao Li commented: "NEWA is a high-tech environmental protection enterprise engaged in the recycling of wastewater into high-quality reclaimed water. Since its establishment, it has adhered to the development strategy of "based in Yantai with a global impact" and is committed to becoming the leader in wastewater treatment in China and globally. The Company believes it has built a state of the art fully automated membrane element production line, enabling it to achieve large-scale production of membrane elements. Our technology has met the zero-emission and resource-recycling requirements for the treatment of high-difficulty wastewater in various industries such as high salinity industrial and landfill leachate wastewater."

"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 nanofiltration and ultrafiltration membranes that can be applied in different industries. Its innovative technology can help fill the gap in current Chinese domestic technology. 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."

At the contract signing ceremony, officials from the Yantai Municipal Government and Yantai Environmental Protection Bureau, and representatives from the financial community who have long supported NEWA were in attendance for the signing ceremony between Mr. Yuebiao Li, the Chairman and CEO of the Company, and Dr. Johannes Sittard, the original shareholder of AMS, and Mr. Gil Meron, the CEO of AMS.

Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (2) | Next 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist