HONG KONG--(BUSINESS WIRE)--Huazhang Technology Holding Limited (“Huazhang” or the “Group”, stock code: 1673) is pleased to announce that the Group has reached a refused waste derived fuel (“RDF”) project agreement with Jiangsu Chamfor Paper Industry Co., Ltd., a paper manufacturer in the PRC, to provide treatment of paper sludge and solid waste. This is the Group’s first RDF project since it signed a strategic cooperation agreement with Kun Sheng Machine Co., Ltd.’s (“Kun Sheng”) to exclusively introduce their RDF technology into the paper industry in the PRC.
Huazhang has entered into a strategic cooperation agreement with Kun Sheng to become Kun Sheng’s exclusive partner and distributor in the PRC for selling equipment and solutions for treatment of paper sludge and waste to paper manufacturers. The Company will leverage on its network and reputation to introduce RDF technology into the paper industry in the PRC.
Currently, sludge treatment in the paper industry has become the Chinese government’s key area for imposing control. The RDF technology converts waste into combustible fuel, and will provide the paper industry with a new solution for sludge treatment. The technology is especially suitable for paper manufacturers equipped with power plants and boilers. This will increase the capital expenditure of paper manufacturers in areas related to environmental protection, which may present new opportunities for the Group in sludge and wastewater treatment.
Kun Sheng is a recycling plant and recycling equipment supplier based in Taiwan, with more than 20 years of experience, and is one of the leading manufacturers of high quality shredders, granulators, dehydrators and recycling plants with recycling solutions and make consumer’s designed recycling machines for various requests and demands.
Mr. Zhu Gen Rong, Chairman of Huazhang, said, “It is believed that the strategic cooperation agreement will further enhance Huazhang’s green production technology and products in paper industry. From the existing treatment of wastewater and sludge treatment, extends to the treatment of paper sludge and solid waste, it helps paper manufacturers to fulfill the environmental requirements from the Chinese government. The Group will thus achieve market expansion, gain market share and create greater business value.”
About Huazhang Technology Holding Limited
The Group is principally engaged in research and development, manufacture and sale of industry automation systems, sludge treatment products and corresponding services. The Group’s industrial automation systems and sludge treatment products are custom-built in accordance with the specifications and requirements provided by the Group’s customers. The Group is also engaged in the provision of after-sales and other services Group’s existing customers.