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French Company Looking for More Cooperation Opportunities
CGEA-ONYX, a subsidiary of French environmental protection giant the Vivendi Group, is seeking more chances of cooperation with Chinese firms.
The remark was made by Denis Gasquet, President of CGEA-ONYX, in Tianjin Tuesday while addressing a function organized to mark the opening of a Sino-French funded center for treatment and disposal of dangerous waste there.
China will have fast economic development upon its entry into the World Trade Organization (WTO) and there will be broad prospects for the country's environmental protection industry, said the French company executive.
Gasquet pledged to provide industrial customers with fine services while seeking more business opportunities in China's environmental protection industry.
The Sino-French center will cover an area of 87,000 sq m and will cost some 100 million yuan (about 12.1 million U.S. dollars), which will be jointly funded by CGEA-ONYX, and three other Chinese organizations, including the Tianjin Municipal Environmental Protection Bureau. The joint venture is Vivendi's first investment in the environment protection business in China.
In addition to the center, the Vivendi Group has been carrying out a number of other cooperation programs in Chinese cities regarding sewage treatment, disposal of garbage, related technical support and training courses. But China operations account for quite a small proportion in the group's total business volume.
Vivendi chalked up 70 billion U.S. dollars in volume of business last year. CGEA-ONYX, which is Vivendi's full-investment subsidiary, mainly engages in management of garbage and public transport and scored eight billion euros in turnover in the past year.
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