(Yicai Global) July 10 -- China Tianying’s European subsidiary will provide the Novasteam waste incineration power station in France with equipment and services in a deal worth EUR34.6 million (USD37.9 million) that will help the Chinese waste management firm to expand its global footprint.

Europe TianYing will supply Suez RV France’s new Novasteam waste-to-energy plant with engineering design, procurement, construction, installation and debugging services for its incinerators and boilers, it said yesterday, citing the equipment supply and service contract recently signed between its majority-owned subsidiary and the French recycling firm.

The tie-up will help Tianying raise its brand awareness and improve its competitiveness in the global environmental protection equipment manufacturing industry. It will positively impact the Hai’an, eastern Jiangsu province-based firm’s business performance this year and in years to come, it said, without going into further details.

This is the second partnership between Europe TianYing and Suez RV France in the last one-and-a-half years. In December 2021, Europe TianYing inked an EUR35 million equipment supply and service contract with the Courbevoie-based firm’s unit to provide the Valo’ Marne waste incineration power plant in Paris with machinery as well as installation and debugging services for its third production line.

Tianying withdrew from the European waste incineration power generation market in June 2021 when it sold its entire stake in Spanish unit Urbaser in order to cut its debt-to-assets ratio. However, the company continues to provide European waste-to-energy plants with equipment as well as installation and debugging services.

Tianying’s share price [SHE:000035] was trading flat at CNY4.55 (USD0.63) as of 1.45 p.m. China time today.

Editor: Kim Taylor