TCC International new line acquisitions, China

TCC International new line acquisitions, China
Published: 26 August 2011

TCC International aid it entered into a framework agreement to acquire an array of cement and clinker production lines in Chongqing, Jiangxi and Zhejiang.

Under the framework agreement, the Group will acquire 100% of, or not less than 80% of equity interests in a group of companies and assets under Chongqing Kehua Holdings (Group) Ltd and Zhejiang Kehua Group Company Limited engaging in the manufacture and sale of clinker and cement in Chongqing, Jiangxi and Zhejiang. TCC intends to finance the consideration for the acquisition by its internal resources, existing banking facilities and new borrowings, possible equity fund raising to be arranged, or a combination of any of the foregoing.

The target companies and assets to be acquired possess a total cement grinding capacity of about 8.1Mta and total clinker production capacity of around 6.3Mta.