LianDi Clean Technology Inc. is a leading provider of clean technology, downstream flow equipment, engineering services and software to China’s largest petroleum and petrochemical companies. The company has four operating subsidiaries: Petrochemical Engineering Ltd., Bright Flow Control Ltd., Beijing JianXin Petrochemical Engineering Ltd., and Hua Shen Trading International Ltd.
The company announced today that it had received a $22 million investment through its Anhui Jucheng subsidiary. Shanghai Chengding Investment and Shanghai Aoying Investment with four other mainland Chinese investment funds acquired a 23.3% interest in Liandi’s subsidiary, giving Anhui Jucheng a valuation of $95 million.
The entire proceeds from the investment will be used to expand Jucheng’s production capacity, giving it the capability to produce 60,000 tons of anion and cation-based polyacrylamide chemicals. These chemicals are utilized as an oil displacement agent for tertiary oil recovery and water treatment. Additionally, Jucheng will become the first producer in China of a chemical – aacryloxethyltrimethyl ammonium chloride – which is a raw material used for producing cation-based chemicals.
The new production lines are expected to begin production by April 2012. LianDi is very excited to move forward. The company’s chairman, Jianzhong Zuo, said that “this capital injection will enable us to rapidly expand into new markets where we see significant growth potential.”
For more information about LianDi Clean Technology, please visit its website at www.china-liandi.com
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