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2006-11-30 08:44:00 a.m. HKT, XFNA
Hong Kong-listed Lo's Enviro-Pro to form medical waste processing jv in China
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HONG KONG (XFN-ASIA) - Lo's Enviro-Pro Holdings Ltd said it has entered
into an agreement with Tsinghua Daring (HK) Holdings Ltd to form a joint
venture that will help China process its growing medical waste in a more
economic and environment-friendly way.
The joint venture will use an initial investment of 80 mln hkd to first
set up centralized medical waste processing centers in eight cities and
operate them with a patented steam-sterilization technology.
Under the agreement, Lo's Enviro-Pro will buy a 55 pct stake in Oriental
Emperor Holdings Ltd, which is the joint venture vehicle hitherto wholly
owned by Tsinghua Daring, for 55 usd, while Tsinghua Daring will hold the
remaining 45 pct.
The company said the launch of the joint venture is in line with its
strategy of capturing opportunities in China's increasing awareness of and
urgent need for environmental protection.
Lo's closed up 0.30 hkd or 18.63 pct at 1.91 in today's trade.
(1 usd = 7.8 hkd)
roby.lau@xfn.com
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