Jilin Qifeng to Buy Water Treatment Assets in China

Jilin Qifeng Chemical Fiber Co. (549), a Chinese maker of carbon and acrylic fiber products, agreed to purchase water-treatment assets from Jilin Chemical Fiber Co. for 290 million yuan ($46 million) to expand in China.

The assets include properties, land and equipment in China’s northeastern province of Jilin relating to water desalination and water and stream supplies for industrial use and water treatment services, Jilin Qifeng said in a statement to the Hong Kong stock exchange.

Jilin Chemical Fiber Group Co., a controlling shareholder of Jilin Qifeng, owns a 21.3 percent of stake in the company.

To contact Bloomberg News staff for this story: Feifei Shen in Beijing at fshen11@bloomberg.net

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net

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