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PRESS RELEASE: ZhongDe Waste Technology AG signed contract to sell Beijing Miyun manufacturing site

DGAP-News: ZhongDe Waste Technology AG / Key word(s): Contract/Disposal ZhongDe Waste Technology AG signed contract to sell Beijing Miyun manufacturing site

23.12.2013 / 12:00

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ZhongDe Waste Technology AG signed contract to sell Beijing Miyun manufacturing site

Frankfurt, December 23, 2014 - Following its business strategy to focus on large-scale BOT and EPC projects, ZhongDe Waste Technology has signed a contract to sell its subsidiary Beijing ZhongDe Fengquan Environmental Protection Technology Ltd. ('Beijing ZhongDe') for 50 million Renminbi (about 6 million Euros). Beijing ZhongDe is the owner of the Beijing Miyun manufacturing site for small-size incinerators.

The sale will have a positive impact on the company's earnings of the fourth quarter 2013. Furthermore the sale of Beijing ZhongDe provides the Group with a cash inflow to be used for its current BOT and EPC projects as well as for investing in future projects.

Consistent with ZhongDe's strategy, the management also terminated the contracts of its EPC projects in Zhaodong and in Shouguang as expected. Thus from now on the company can fully concentrate on the completion of its current BOT and EPC projects and on starting the construction of the BOT project in Lanzhou and the EPC project in Wuhai. Especially these two projects will generate additional profit for the company in the upcoming years. Furthermore, two of ZhongDe's energy-from-waste plants, one located in Zhoukou and the other one in Xianning, have entered into trial operation and are expected to be completed in 2014.

About ZhongDe Group

ZhongDe Group designs, invests, constructs, finances and operates energy-from-waste plants generating electricity from the incineration of solid municipal and industrial waste. ZhongDe realises either EPC (Engineering, Procurement and Construction) or BOT (Build, Operate and Transfer) projects, focusing on large-scale plants with waste disposal capacities of around 1,000 tons per day. Since 1996, ZhongDe Group has installed approximately 200 waste incinerators in 13 provinces throughout China. ZhongDe is one of the leading players in the project development and operation of energy-from-waste plants in China.

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PRESS RELEASE: ZhongDe Waste Technology AG signed contract to sell Beijing Miyun manufacturing site

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I got word of this yesterday from a friend in the publishing business. He naturally was concerned whether the change could be read as any clue to a change in status of the press, which survived a UA administration effort to shut it down 15 years ago.

I couldn't reach Malley, but Bieker responded this morning to my note.

Doug Smith wrote an article for the Times last year that indicated the press was safe but that its fans remained watchful. It was then receiving a subsidy of about $250,000 a year from the University. (Less than many a football coach or many administrators at Fayeteville receive in a year.) Doug wrote:

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