COLOGNE, Germany, February 21, 2011 /PRNewswire/ -- KHD Humboldt Wedag International AG, one of the leading suppliers of industrial plants and services for the global cement industry, has successfully completed its capital increase. Raising share capital by EUR 16,561,021 to EUR 49,703,573 was one of the main pre-requisites for the partnership with Chinese state-owned CATIC Beijing Co. Ltd. The conclusion of the capital increase and CATIC's resulting 20% equity holding (through Max Glory Industries Ltd.) clears the way for the two companies to expand their global business together.
KHD and CATIC will now be able to offer selected competitive turn-key solutions for the cement industry. By combining the strengths of KHD's technology and CATIC's construction experience and competitive cost platform. Until now CATIC has been working mostly with Asian partners for non-CATIC technology. KHD adds strong process knowledge, engineering "made in Germany", equipment design and over 150 years of cement industry experience to the partnership. This strengthens both companies' position as a provider of competitive turn-key cement plants, and consequently their collective market presence.
The partnership with CATIC also allows KHD to tap into the huge growth potential in China. "The Chinese government is actively pushing for more environmentally friendly technologies and products and with our innovative and energy-efficient technologies we are striving to gain a strong portion of this market," explains KHD CEO Jouni Salo. CATIC Beijing CEO Diao Weicheng also sees the partnership as the basis for long-term success for both companies. "Working with KHD means that we can increase our cement activities and we are now in the position to bid on projects, which were closed to us in the past."
Investor Relations cometis AG Susanne Gremmler Tel.: +49(0)611-205855-23 E-Mail: email@example.com
SOURCE KHD Humboldt Wedag International AG