CNBM plans for 100% stake in Zhejiang-based factory

CNBM plans for 100% stake in Zhejiang-based factory
Published: 26 June 2007

China National Building Material Group Corporation (CNBM), the nation’s largest building material manufacturer, plans to acquire a 100% stake in Guangyu Group held in a Zhejiang-based cement factory, according to sources. 
 
It plans to purchase the targeted cement factory by using a prior purchase right granted by its parent company in a non-compete agreement provided that its parent company has made a final decision to close the deal.  
 
The  cement factory, which has a production capacity of 12,500tpd of  clinker currently focuses on the production and sales of cement in East China’s Zhejiang province.