SEOUL, June 4 (Korea Bizwire) — SK ecoplant Co., a leading South Korean builder formerly known as SK Engineering & Construction Co., has launched a drive to strengthen its waste management business by investing about 400 billion won (US$357 million) to acquire four waste processing companies.
The company disclosed on Thursday that it had signed share purchase agreements to take over four waste processing companies – ClenKo, Daewon Green Energy, Saehan Environment Technology and DDS.
SK ecoplant formulated a ‘bolt-on’ strategy by leveraging EMcorp Co. (formerly EMC Holdings) that it acquired last year as an anchor. Under this strategy, it decided to acquire all of the shares of these companies located in South Chungcheong Province.
With these acquisitions, the firm jumped into the nation’s top spot not only in water treatment but also in waste processing, with a capacity of incinerating 876 tons of waste (excluding medical waste) per day.
SK E&C underwent a name change to SK ecoplant last month.
The company is now pushing for sophistication and advancement of waste processing by leveraging core capabilities it has developed in the construction industry, as well as the eco-friendly technology held by the acquired companies.
Kevin Lee (email@example.com)