(Yicai Global) Dec. 18 -- Beijing SPC Environment Protection Tech Co. [SHE:002573] will invest EUR250,000 (USD294,115) to set up a joint venture in Germany with a local partner as it looks to expand overseas and bolster its international presence.
The Chinese firm will use its own funds to start the new company in tandem with Germany's Emission-Reduzierungs-Concepte GmbH, which makes additives to reduce pollutant emissions from oil. The two firms will split their share in the joint venture equally, SPC Environment Protection said on Dec. 15.
The JV will research, develop and sell products related to atmospheric management and conduct energy conservation and emissions reductions projects, the statement added.
The average concentration of PM2.5 in 28 northern Chinese cities ranged between 52 and 87 micrograms per cubic meter during October and November, the Ministry of Environmental Protection said on Dec. 11. The north of the country, particularly around the industrial hub in the Beijing-Tianjin-Hebei area, struggles with pollution, but is on track to meet smog-curbing goals, the Ministry said.
PM2.5 is particulate matter with a diameter of less than 2.5 micrometers.
SPC Environment Protection believes the deal will allow it to offer more comprehensive services, make it more competitive and enhance its international reputation.