Shui On Construction and Materials Ltd said it will sell cement and concrete plants in the southwestern province of Guizhou to its 45-per cent owned unit Lafarge Shui On Cement Ltd for HKD352m.
It expects to record a HKD48m gain on the sale.
Shui On said it will sell 90 per cent of Shui On Cement Co and 75 per cent of Ken On Concrete Co for HKD195m. The two make cement and ready-mixed concrete.
It will also sell 100 per cent of Kaili Shui On Co for HK157m. Kaili’s plant, designed to produce 2500tpd, is under construction.