PHILADELPHIA, Sept. 5, 2012 /PRNewswire/ -- FMC Corporation (NYSE: FMC), BCEG Environmental Remediation Co., Ltd. ( BCEER), and BRISEA Group, Inc., have signed a definitive agreement to form a joint venture to manufacture and market cost-effective, environmentally friendly products for soil and groundwater remediation in China.
By combining BCEER's leading position in China's remediation market and BRISEA's global reputation for environmental technology transfer, the new joint venture is poised to introduce a number of cost-effective technologies from FMC's Environmental Solutions Division. The joint venture, named Beijing Enviro-Chem (Beijing Enviro-Chem Industry and Commerce Co., Ltd.), will also provide research and development, laboratory feasibility testing, remedial design and technical support services.
"We are pleased to join forces with these well-respected market leaders to address the urgent environmental challenges in China with innovative and cost-effective solutions," said Amy O'Shea, FMC Environmental Solutions Division manager. "This agreement provides a strong platform for future growth as new regulations for soil and groundwater begin to take shape in this important market."The joint venture will market FMC's broad product portfolio of unique in situ chemical oxidation technologies, in situ chemical reduction technologies, and other leading environmental remediation solutions. FMC's environmental portfolio of soil and groundwater remediation technologies have been used across six continents to remediate hydrocarbons, halogenated organics, organic explosive compounds, pesticides and heavy metals. Beijing Enviro-Chem is expected to immediately sell products that will be used on several key projects in China. "This is a clear case of investing ahead of the curve," said Gao Yanli, general manager of BCEG Environmental Remediation Co., Ltd. (BCEER). "Beijing Enviro-Chem brings together the right partners with the right knowledge and relationships at the right time. We're delighted to work collaboratively with FMC Environmental Solutions and BRISEA, bringing new technologies to the forefront and helping to advance China's commitment to environmental remediation." "We're so pleased to see our vision come to fruition," said Yuhong Jiang, president of BRISEA Group, Inc. "Our goal is to introduce urgently needed technologies and products to China to tackle its environmental challenges. We expect to see Beijing Environ-Chem become a key player in China's fast-growing remediation market." The joint venture will be led by a global team of experienced executives from the joint venture partners. It is expected to receive approval from the Chinese government by late 2012. Terms of the transaction were not disclosed.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts