LONDON (Jan. 30) — British environmental technologies company CO2 Tech Ltd. has acquired China Energy & Carbon Black Holdings Inc. in what it calls a reverse merger.
China Energy is a Shenyang-based company — formerly known as Huayang International Holdings Inc. — whose holdings include a carbon black plant in China´s northwestern Xinjiang province.
Following the transaction, the combined companies are operating under the CO2 Tech name. Financial terms of the deal were not disclosed.
"As a publicly traded company, CO2 Tech is now better positioned to utilize the outstanding growth opportunities of the global anti-global warming technologies market," said CO2 Tech President Helga Schotten. "At the same time, we are continuously forging ahead on new developments and technologies, to offer our customers superior solutions to their carbon dioxide and pollutant reduction needs."
The company did not divulge its plans for the carbon black assets.