United Envirotech to invest S$35m in Memstar Technology

Investment seen to boost China sales.

In explaining the rationale behind its S$35m investment, Memstar said in a release that it will strengthen the strategic relationship between Memstar Group and UEL and help Memstar Group grow its membrane sales in water and waste water treatment plants across China.

The investment will be by way of purchase of an aggregate of 350,000,000 shares at S$0.10 per share from Ms. Pan Shuhong and Dr. Ge Hailin, representing approximately 13.18% of the existing issued and paid-up capital of Memstar Technology Ltd.

Memstar is is a leading manufacturer and supplier of PVDF hollow fibre membrane, membrane products and integrated membrane systems service, and one of the few manufacturers of high performance PVDF hollow fibre membranes in the world.

UEL is a leading membrane-based water and waste water treatment and recycling solution provider in China’s chemical, petrochemical and municipal sectors. Its principle activities include design, fabrication, installation and commissioning of water and waste water systems using its proprietary advanced membrane technologies such as the Membrane Bioreactor (MBR) technology.

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