China new energy (CNE) limited has announced it has signed a letter of intent with Guangzhou Zhongke Tianyuan Regeneration Resources Engineering Co Ltd to acquire 88.5 percent of the Bengbu Boltech Bio-technology Co Ltd. “This strategic acquisition is part CNE’s ambition to provide integrated solutions to the biofuel and biochemical industries. At present, the wide use of dry active yeast in China is limiting the efficiency and performance of Chinese ethanol producers, and therefore is not economically sound. Boltech’s liquid active yeast can help our clients reduce costs and achieve superior results.” said Mr. Zhaoxing Tang, Chief Executive Officer of CNE. Read more ...
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