Beijing Enterprises Water Group Limited has acquired Hong Kong Kaifa Group to enhance its marine waste management services, supporting China's ecological goals.
Information on the Target
Beijing Enterprises Water Group Limited (BEWG) has successfully signed a purchase agreement to acquire Hong Kong Kaifa Group (HKG), a leading provider of marine waste cleaning and treatment services in Hong Kong. Established in 1983, HKG has been the exclusive contractor for marine waste management in Hong Kong for 17 consecutive years, tackling pollution through oil interception, collection of oil spills, and removal of hazardous marine substances.
The establishment of the Ministry of Ecology and Environment by the National People's Congress in March 2018 marked a significant change in environmental management, unifying oversight for terrestrial and marine ecosystems. This reform emphasizes the importance of adhering to strict ecological regulations, paving the way for further growth in the marine waste management sector.
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Industry Overview in the Target's Specific Country
Environmental protection in China is undergoing a transformation, with increased focus on the marine ecosystem. The current period is critical for the integration and reconstruction of marine ecological protection efforts. There exists a substan
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Disclosed details
Transaction Size: $10M