China's Yonker Offers USD23 Million for Controlling Stake in Canadian Soil Remediation Firm
Yicai Global
/SOURCE : Yicai
China's Yonker Offers USD23 Million for Controlling Stake in Canadian Soil Remediation Firm

(Yicai Global) Oct. 24 -- Hunan Yonker Environmental Protection Co. [SHE:300187], an environmental protection enterprise, has made a non-binding initial offer of CAD30.6 million (USD22.95 million) to major shareholders of Canadian soil remediation firm McMillan-McGee Corp. for a 51 percent stake.

The Alberta-based company owns the patented electro-thermal dynamic stripping process, an in-situ environmental remediation technique that cleans contaminants such as chlorinated solvents, polycyclic aromatic hydrocarbons and petroleum hydrocarbons from the soil. It has been successfully applied in different projects run by the US government's Superfund Grant that funds the cleanup of sites contaminated with hazardous substance and pollutants, and other projects.

There is a gap in the thermal remediation of organic matters in soil in China which the Changsha-based company hopes to fill with this technology, the company announced today.

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