By Marcus Leach
UK company ASI Solutions PLC has signed an agreement worth around £100 million with HUALI, a wholly owned subsidiary of the China Highway Engineering Consulting Group Company Limited (CHECSC).
ASI Solutions designs, manufactures and sells specialist materials to treat the asphalt surfaces of highways and runways.
The deal will support China’s ambitious infrastructure development plans, via ASI Solutions’ key product, Rhinophalt, which protects against road surface deterioration caused by weather and high traffic volumes. As a result, this will enable China to continue to focus its investment on new build, rather than repairs to its existing infrastructure.
HRH the Duke of York, Special Representative for Trade and Investment, who witnessed the signing in Beijing said:
“This type of deal shows exactly the type of mutual benefit that both UK firms and China can realise as Partners for Growth. As the Chinese economy continues on its impressive path to growth, UK firms are bringing their world class expertise and innovative solutions to support this.
“UK firms are renowned in sectors such as infrastructure and the opportunities across high-value projects are significant. I hope to see more UK firms doing business in across the whole of China, including in its fast-developing regional cities.”
CHECSC is a major civil engineering operation which is involved in the build and repair of China’s rapidly growing Expressway infrastructure and also operates internationally. It is owned by China Communications Construction Company Limited, a state owned and privately run group which is ranked as the 13th largest contractor in the World and within the top 500 global enterprises as of the end of 2010.
Barrie Simpson of ASI said:
“Working with the assistance of UKTI, ASI is delighted to have reached agreement with HUALI and CHECSC for the adoption of ASI’s specialist products within China.
“ASI Solutions view this agreement as extremely important in its international growth, presenting a significant opportunity to export its technology, innovation and products into a world-leading and rapidly expanding market. At the same time it is proud to be working in partnership with a highly respected organisation such as CHECSC, seeking to ensure that China realises best value from its substantial transport infrastructure investments.”