| TOKYO - JFE
Engineering Corporation has decided to take a capital
stake in Changzhou Lucky Environmental Protection Equipment
Engineering Co., Ltd. (Changzhou Lucky) in Jiangsu Province,
China. The company will own 14.9% of Changzhou Lucky,
with the equity transferred from its parent company
Sun Lap International Investment Co., Ltd. (Hong Kong)
Changzhou Lucky is an environmental equipment engineering
company specializing in incinerator and flue gas treatment
facilities. Headquartered in Changzhou City, the company
is extensively involved in the planning, design and
construction of environmental projects, as well as the
development and procurement of major equipment.
JFE Engineering licensed stoker incinerator technology
(JFE hyper grates), semi-dry flue gas treatment equipment
(JFE-Limar) and a non-catalytic De-NOx system to Changzhou
Lucky in April last year. By taking a capital stake
in the company, JFE will be able to strengthen the partnership
and also expand sales of its stoker incinerators in
the fast growing Chinese environmental equipment market.
In addition, Changzhou Lucky will provide JFE Engineering
with a center for producing and procuring incinerator-related
machinery and parts for the Japanese and Southeast Asian
markets.
JFE Engineering established the International Business
Development Center in April this year as part of a program
to strengthen its overseas operations. By taking a capital
stake in the Chinese market, it hopes not only to spread
its technology and expand its sales, but also to actively
develop the environmental equipment market in Asia through
measures such as selling lower-cost plants to neighboring
Southeast Asian countries.
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