- SciDev (SDV) and the Nuoer Group have entered a new joint venture to speed up global growth initiatives
- Both companies focus on water and wastewater treatment
- Since approving a Heads of Agreement in February 2019, both companies have demonstrated they work well together and this partnership has been beneficial to both companies and the public
- This joint venture will combine Nuoer’s production and manufacturing skills with SciDev’s technical, marketing and sales capabilities
- SciDev is up a steady 14.4 per cent and shares are trading for 67.5 cents each
Water treatment company SciDev (SDV) and the Nuoer Group have entered a new joint venture to speed up global growth initiatives.
The Nuoer Group is a high-tech company focused on the research, development, manufacture, sale and service of polyacrylamide.
Polyacrylamide is a polymer (a large molecule made up of repeated units) which is used in water, sewage, and waste treatment, oil recovery, paper making, and the construction of dams, sewers and tunnels.
This joint venture will combine Nuoer’s production and manufacturing skills with SciDev’s technical, marketing and sales capabilities to target the global market.
Nuoer will also continue to provide chemical supply to SciDev and its customers.
Since approving a Heads of Agreement in February 2019, both companies have demonstrated they work well together and this partnership has been beneficial to both companies and the public.
While the initial agreement had geographic and commercial limitations, this new one will reflect both SciDev’s and Nuoer’s growth in the past year.
Additionally, this new agreement will allow the companies to bid on the increasing number of Chinese State-owned operations outside of the People’s Republic of China that are normally off-limits to western companies.
This joint venture will be equally operated by both companies.
“The strategic relationship formed between SciDev and Nuoer in 2019 allowed SciDev access to a world-class manufacturing partner,” SciDev Managing Director and CEO Lewis Utting commented.
“That security of supply, coupled with SciDev’s professional services, know-how and technology has allowed the company to deliver on our growth ambitions and in parallel support Nuoer in theirs,” he added.
SciDev is up a steady 14.4 per cent and shares are trading for 67.5 cents each at 3:48 pm AEST.