Jidong Cement to Acquire Qinling Cement

Jidong Cement to Acquire Qinling Cement
Published: 18 February 2009

Jidong Cement Co., Ltd, one of the largest cement producers in China, is acquiring Shaanxi Qinling Cement (Group) Co., Ltd. (SHSE: 600217), a strategic step toward its expansion in northwest China.

State-owned Yao County Cement Plant, which takes a controlling 25.71 percent stake in Qinling Cement, is in talks with Jidong Cement about transfer, said Qinling Cement on Tuesday. Therefore, Qinling Cement, the largest cement producer in Shaanxi Province, suspended its share trading on the Shanghai Stock Exchange from February 16 and will resume the trading on February 19, on which it will make the negotiation result known to the public.