Chinese BBMG clinches US$101.5m asset purchase deal
Chinese building materials manufacturer BBMG Corporation said on Tuesday it had sealed a CNY-693m (US$101.5m/€73.8m) deal to buy cement production assets from Hebei Yanzhao Cement.
The output capacity of the acquired operations is 4000tpd of clinker and, as a result, BBMG will boost its cement clinker capacity by about 1.2Mta and expects to increase its market share in the cement sector.
Under the terms of the agreement, BBMG will also purchase the use rights to 153,180m2 of land where the production line is located. Published under Cement News
