Chennai-based CNIM MARTIN Private Limited (CMPL) has announced the finalization of its takeover by Paprec Group, via its holding company Paprec Energies International, of the 51% of its shares that were held by CNIM Environment & Energy. This share transfer, now effective, is part of the assets transferred from CNIM E&E to Paprec Group within the overall restructuring process of CNIM Group that has been initiated early this year and piloted by the French Tribunal of Commerce of Paris.
Other assets transferred from CNIM E&E to Paprec Group within the same process are the right to use of CNIM brand name, the complete engineering and project team hosted in La Seyne, south of France, and the complete CNIM E&E Know-How and patents portfolio, in particular for Waste to Energy Boilers and Waste to Energy overall plant design. To host these assets, Paprec Group has created the new entity Paprec Engineering CNIM which will continue its activities as one of the European leaders within the WTE sector and will continue to collaborate closely with CMPL.
Now upon joining Paprec Group, with the continuity of access to the CNIM WTE know-how and technologies via its collaboration with Paprec Engineering CNIM, and keeping its historical shareholder MARTIN GmbH (remaining with the 49% shares of CMPL), CMPL can reinforce its development in the region and continue to propose to its regional customers state of the art competitive and reliable solutions for their WTE projects.
Disclaimer: This article is taken from a press release issued by CNIM Martin