Asia Cement Invests in China’s Sunnsy Group
Asia Cement Corporation, one of Taiwan’s leading cement producers, recently announced it has signed, through its subsidiary—Asia Cement (China) Holdings Corp, Hong Kong, a memorandum of understanding (MOU) with Sunnsy Group of China to acquire a 30 per cent stake of the group’s subsidiaries in northeastern China and Inner Mongolia.
Sunnsy Group is reportedly the largest cement conglomerate in Shandong province and has recently tapped such markets of Liaoning province of northeastern China, and Inner Mongolia of northwestern China. Over the past decade, Sunnsy Group has expanded annual production capacity to 60Mt of cement from less than 2Mta in 2000 growing into one of China’s top-ten cement conglomerates. By comparison, Asia Cement Group has an annual production capacity of 30Mt of cement both in Taiwan and China.
Published under Cement News
