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Newater Technology Terminates Acquisition Agreement to Acquire AMS Technologies
Friday 15 March 2019

15 March 2019 - Chinese filtration equipment manufacturer Newater Technology, Inc. (NASDAQ: NEWA) has terminated an acquisition agreement to acquire Israeli special membrane materials developer AMS Technologies Int. Ltd, the company said.

There is no impact on NEWA's operating results associated with terminating the agreement.

On December 1, 2018 NEWA previously announced it entered into an acquisition agreement to acquire AMS with an expected closing date of March 2019.

Founded in 2012 and headquartered in Yantai, China, Newater, operating its business through its wholly owned subsidiary Yantai Jinzheng Eco-Technology Co., Ltd., is a service provider and manufacturer of membrane filtration equipment and related hardware and engineered systems that are used in the treatment, recycling and discharge of wastewater using DTRO (Disk Tube Reverse Osmosis) and DTNF (Disk Tube Nano-Filtration) membranes.

Newater also provides integrated technical solutions in engineering support and installation, technical advice and wastewater treatment services, and other project-related solutions to turn wastewater into reusable water.
Details
Date Published: 15/03/2019
Target: AMS Technologies
Country: Israel
Sector: Utilities
Type: Corporate acquisition
Financing:
Status: Terminated
Vendor:
Buyer: Newater Technology
Comment:
Terms of the deal were not disclosed

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