(Yicai Global) Sept. 23 -- The landscaping arm of Shanghai Construction Group is buying Shanghai Greenment Environmental Technology, one of the country's largest independent environment consulting service providers, for CNY327 million (USD48 million).
Shanghai Garden Group will acquire Greenment Environmental to further the development of Shanghai Construction's ecological landscape and environmental engineering businesses, the parent firm said at an event held in Shanghai today.
The takeover will give Shanghai Construction greater technical support in the ecological environment restoration sector, boost its market share and create a more complete industrial chain, it added.
Shanghai-based Greenment Environmental provides sustainable solutions to the environmental challenges of governments and large enterprises, according to its website. It has offices in Beijing, Guangzhou, Chengdu in China, as well as overseas in the US and Belgium.
Editor: Kim Taylor