SINOMEC and Bauer Sign A Letter of Intent

On June 15, 2016, SINOMEC and Bauer Resources GmbH reached an agreement on cooperation. In the next two years, both parties will jointly develop the soil remediation marketin China and carry out exclusive cooperation on soil remediation. Mr. DuanYulin, President of SINOMEC, Mr. Li Yang, Senior Vice President of SINOMEC, and Dr. Roman, Vice President of Bauer Resources GmbH, attend and witness the signing of the Letter of Intent.

Founded in 1790, Bauer Group was headquartered in Bavaria and has a total of more than 10,000 employees and three respective subsidiaries on construction, machinery andresources. The group maintains business relationships with more than 100 companies in 70 countries and regions around the world. Bauer has world-leading technology and rich practical experience in soil remediation, with 5 soilremediation centers in Germany and the EU-certified treatment qualifications for more than 400 types of wastes. It is especially good at remediation technology selection and one of the most powerful environmental restoration companies in the EU.

With the implementation of the Action Plan for Soil Pollution Prevention and Control, China will pay more attention to the governance of soil. SINOMEC and Bauer will take advantages of the market and technology of both parties to develop a pollution remediation management framework and restoration technology suitable for China’s conditions and contribute to the national environmental protectioncause, in combination with Chinese characteristics.