M&A news on ASPZ – Entering Petroleum Pipeline Engineering Industry
18, February 2015: Henan Zhongtuo Petroleum Engineering Technology Co. Ltd., member of Sinopec Group and China Petroleum Engineering & Construction Committee, owns subsidiaries in Sudan, Iran, Kazakhstan, Chad and so on. Henan Zhongtuo Petroleum Engineering Technology Co. Ltd., rewarded as national high-tech enterprise in 2010, is specialized in pipeline and equipment flushing by using physical and chemical cleaning techniques, including intercrossing method, reversing method, coating method, CHC strengthening and repairing technology, pipeline pigging, pipeline pressure testing, pipeline drying and replacement, pipeline inspection, pipeline anticorrosion and insulation. In 2012, its stainless steel inner lining repairing technique passed the national scientific and technological evaluation and wrote in “Law of the PRC on Promoting the Transformation of Scientific and Technological Achievements”.
President of ASPZ, Mr. Fan Haoran says, after M&A with Zhongtuo Petroleum Engineering Technology Co. Ltd., ASPZ will bring in the most advanced worldwide technique – petroleum pipeline heating technique to upgrade the engineering ability of Zhongtuo Petroleum Engineering Technology Co. Ltd. project. With the financial support of ASPZ and business resources of Rongguang Technologies Engineering Co. Ltd., project of Zhongtuo Petroleum Engineering Technology Co. Ltd. will be much more energy-saving and environmental-friendly. As a result of it, the project will be beneficial to upgrading petroleum pipeline and enhancing its competiveness in petroleum pipeline industry.
The industry thinks that the main investment of ASPZ, incorporated with Rongguang Technologies Engineering Co. Ltd., will focus on the field of energy conservation and mineral resources in the future. The merger and acquisition between ASPZ and Zhongtuo Petroleum Engineering Technology Co. Ltd. is only one part of improving its industrial development. There will be bigger cases of merger and acquisition between ASPZ and other enterprises in the future.
About ASPZ:
A diversified Utility Company. Founded in 1998, Asia Properties Inc. (Symbol: ASPZ). API’s Company goal is to deploy capital in Asia, specifically for developing and achieving mergers and acquisitions in the reorganization of quality assets in utilities and in the environmental energy-saving industry in China due to the huge potential of China’s energy-saving utilities market.
For Media Contact:
Company: ASPZ
Address: 119 N. Commercial Street,
Suite 190 #115, Bellingham, WA 98225
Phone: 360-392-2841
Email: dmckinney@asiaprop.com
Website: http://www.otcmarkets.com/stock/ASPZ/profile
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