Sep 8 2006
Siemens expands its solution business for water treatment in China with the acquisition of CNC Water Technology Inc., Beijing, a successful Chinese system integrator. With 120 employees, including 70 engineers, the company is exclusively active in the water sector and primarily in industrial filtration applications. “The corporation has a very solid reputation in the Chinese water market”, said Roger Radke, head of Water Technologies, a division of the Siemens Group Industrial Solutions and Services (I&S). “With the acquisition we can combine Siemens’ water treatment products and systems with CNC´s leadership position in large water treatment and seawater desalination projects in China, to dramatically develop the world’s potentially largest and fastest growing market.” Both parties agreed not to disclose the purchase price.
Established in 2002 to introduce membrane filtration treatment process to the seawater desalination and wastewater treatment market in China, CNC relied on its technical competencies and particularly strong experiences in ultra-filtration and reverse osmosis membrane fabrication to quickly become a market leader. Since 2002, it has successfully executed some of the largest projects in China for seawater desalination industrial wastewater and municipal water treatment, covering a wide industry range, including petrochemicals, refining, power generation, and steel production. Beijing bases CNC Water Technology Inc. is a 100% owned company of the CNC (HK) Water Technology Limited., Hong Kong, of which Siemens has aquired the majority with 70% ownership. An option has been agreed upon the parties granting Siemens the right to aquire the remaining 30 per cent of the shares after three years.
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