Dongwu Cement to sell stake in wastewater treatment company

China’s Dongwu Cement has announced that its subsidiary, Xinhua Shanghai Investment Management Co, plans to divest its entire 62.26 per cent stake in Shanghai Biofit Environmental Technology Co. The total consideration for the divestment is estimated at CNY22m (US$3.14m).

Shanghai Biofit and its subsidiaries are principally engaged in the treatment of organic wastewater and sludge, alongside the comprehensive treatment of urban organic waste.