Yatai Group Building Material Investment, a subsidiary of Jilin Yatai Group, acquired 51 per cent stake of Tieling Tieshui Cement Company for CNY266m (US$40m). Two months ago, the subsidiary purchased a 44 per cent stake in Tieling Tieshui Cement Company.
According to Yatai Group, Tieling Tieshui Cement has three dry-process lines. n employee said the target company’s location in Tieling is close to Shenyang where the company just completed its building material industrial park.
Yatai Group is mulling the purchase of the remaining five percent of shares.