Berlin. The ALBA Group, one of the leading recycling and environmental services companies as well as raw material provider worldwide, seeks to grow its China business and its segment Services jointly with the Chinese company Techcent. The ALBA Group and an investment fund led by the Deng family, who is also the dominating shareholder of Techcent, signed a joint venture agreement, which is supposed to become effective as of 1 January 2017. The share in the Berlin based recycling company's two segments will amount to 60%.
"As announced, we were able to identify a matching co-investor for our China business and our segment Services before the end of the year," said Dr. Axel Schweitzer, chairman of the ALBA Group. "As a listed but still a family-run company, Techcent shares both our values and our strategy. Techcent is the perfect partner to powerfully promote the growth of both lines of business." The ALBA Group and Techcent established their close collaboration by concluding a "Strategic Partnership Agreement" in an additional document.
Also from Techcent's perspective, both companies are a perfect match. "The ALBA technology enjoys an excellent reputation in China. Based on our experience in our home market, we jointly aim to take recycling to the state of the art level in China", said Deng Xiang, managing partner at Techcent. "This partnership with ALBA Group constitutes a further significant step in terms of our worldwide successful business strategy, also in Germany. After our entrance at Bilfinger Water, it illustrates our position as leading Sino-German environmental services company."
The joint venture will consist of selected areas of ALBA Group's China business relating leading high-end technology growth areas such as electronical waste and automobile recycling. In addition, the partnership will comprise the segment Services including the Dual System Interseroh, which plays a major role in the collection and treatment of packaging waste from the Yellow Bin/Yellow Bag, as well as the worldwide leading sorting facilities for light packaging.
The participation agreement further provides that both parties of the joint ventures will take charge for the companies involved with Dr. Axel Schweitzer acting as chairman. Both parties agreed to treat the details of the agreement strictly confidential.
"By teaming up in this promising partnership, we have set the course for a successful development in particular regarding the internationalization of ALBA Group as well as the enhancement of the recycling to a level of perfection including the digitalization of our business", commented Dr. Axel Schweitzer. "Even internationally, a 'future without waste' should not remain a vision."
About ALBA Group:
With its two brands - ALBA and Interseroh - and a total of about 7,500 employees ALBA Group operates within Germany, Europe and Asia. With an annual turnover of approx. 2.2 billion Euros (2015) ALBA Group is one of the leading recycling and environmental services companies as well as raw material providers worldwide. In 2015 alone ALBA Group saved almost 5.9 million tonnes of greenhouse gases compared to primary production and at the same time about 51.8 million tonnes of primary raw materials through its recycling activities. Further information on ALBA Group can be found at <link http: www.albagroup.de external-link-new-window external link in new>www.albagroup.de. All press releases of the ALBA Group may be subscribed to via RSS feed at <link http: www.albagroup.de presse external-link-new-window external link in new>www.albagroup.de/presse.
About Techcent:
Chengdu Techcent Environment Co., Ltd ("Techcent") is a leading environmental company headquartered in Chengdu in Sichuan/China. Founded in 2001, the company focuses on research, development, services and engineering in the field of environmental technologies. In March 2016, Techcent acquired Bilfinger Water Technologies GmbH, one of the world leading providers of plants, components and services with respect to water treatment technologies, for approx. 200 million €. Listed at Shenzhen Stock Exchange, Techcent has a market capitalization of €1.2 billion.
Further information on Techcent can be found at <link http: www.tbhic.cn en external-link-new-window external link in new>www.tbhic.cn/En
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