Axiom Holdings Inc. a holding company today announced that on July 16, 2016 the Company entered into negotiations with Xiao Jin County Ji Tai Power Investments Company Limited and Xiao Jin County Xin Hong Electric Power Development Company Limited to acquire two Hydro-Electric power plants in Sichuan China with future expansion undergoing now.
The plants will be purchased by a newly formed subsidiary of Axiom Holdings Inc., and will be 100% wholly-owned by the parent company commonly known as a WOFE (wholly-owned foreign entity).
The plants generate approximately 44,000 KW of power. A source closed to the power plants, confirmed that the two initial power plants generate positive cash flow and are very profitable.
Tuan Low, President of Axiom Holdings, commented, "We are excited about this acquisition and look forward to providing green power generation to China, the world's largest and most populous country. Axiom will continue to explore and vet acquisition opportunities such as this one globally and within the U.S."
Mr. Low added, "This is the first acquisition being considered by Axiom, we hope to announce further acquisitions in the near future."
Source: Axiom Holdings Inc.
Date: Jul 20, 2016