China National Building Material Company Limited (CNBMC) announced that its parent company, China National Building Material Group Corporation, will acquire at least 90 per cent of Zhejiang Hushan Group Company Limited. CNBMC may exercise its pre-emptive right to replace the parent company to buy the equity of Hushan Group.
Hushan Group has three production lines with a daily clinker capacity of 2,500 tonnes each and two production lines with a daily clinker capacity of 1,000 tonnes each. It is also building a production line which will have a daily clinker capacity of 4,000 tonnes.
CNBMC has earlier announced its intention to fully acquire Zhejiang Cement, which has three production lines with a daily clinker capacity of 12,500 tonnes and four production lines under construction with a daily clinker capacity of 4,000 tonnes each.