Waste Management To Partner with Shanghai Chengtou in China

Waste Management (WM) and Shanghai Chengtou Holding announced the signing of an agreement for WM to purchase 40 percent of Shanghai Environment Group (SEG), a leading provider of environmental services in China, from SC Holding.

Earlier this year SC Holding announced its intent to seek a foreign joint venture partner in SEG. After a formal selection process, WM was awarded the bid and together both companies will manage and operate SEG to pursue waste-to-energy opportunities and offer other waste services throughout China.

“We see waste as a resource, and we see international expansion of our waste-to-energy business through our subsidiary, Wheelabrator Technologies Inc, as a growth engine for us in the future. Wheelabrator’s operational excellence coupled with SEG’s market position and local expertise provides a strong competitive advantage,” said David Steiner, CEO of Waste Management. “Through this joint venture, SEG can bring increased operating and technical efficiencies and solutions to the rapidly growing Chinese waste-to-energy market.”

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