Sancon Resources Recovery, Inc., a growing waste logistics and recycling company with main operations located in China, announced today that it has entered into an acquisition agreement with a profitable Beijing environmental services company. On March 25, 2011, Sancon signed a letter of intent with Beijing JDY Environmental Recycling Co., Ltd. (or "Beijing JDY"), under which Sancon's majority owned subsidiary Sancon Shanghai will acquire 51% equity of Beijing JDY. Sancon management believes this acquisition will contribute over US$15M revenue annually with healthy future growth projections.
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