Forest Water Environment Engineering Ltd (山林水工程), a subsidiary of Rich Development Inc (力麒建設), plans to debut on the Taiwan Stock Exchange in September.
Forest Water provides engineering for various industrial water treatment services — including sewage systems, seawater desalinization and wastewater recycling — from planning and construction to operation.
Established in 2004, the company has paid-in capital of NT$1.19 billion (US$37.27 million).
Supported by two major shareholders — Rich Development and Beijing Enterprise Group (北控集團) — Forest Water plans to seize booming business opportunities in China.
Demand for pollution control in China has started to emerge, as local regulations tighten, Forest Water general manager Wu Jen-chien (吳人傑) said at an investors’ conference on Thursday.
The company is looking to construct a sewage treatment plant in Yunnan Province and hopes to tap the soil remediation business in China in the long term, it said.
In Taiwan, the company is a leading presence in the wastewater-treatment market.
In addition to sewage treatment, Forest Water is to continue developing new technologies for the recycling of sewage sludge, the reuse of organic waste and seawater desalination, the company said.
Ultraviolet light disinfection is to be the company’s next area of focus, Forest Water chairwoman Kuo Shu-chen (郭淑珍) said at the conference.
In the first half of this year, Forest Water reported revenue of NT$1.03 billion, soaring 41.94 percent from the previous year, while net profit increased 25.8 percent annually to NT$134 million, with earnings per share of NT$1.12.
The company said it is positive about its revenue outlook in the second half.
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