China Resources Cement unit buys Tiejian stake for 15m yuan

China Resources Cement unit buys Tiejian stake for 15m yuan
Published: 22 July 2004

China Resources Cement Holdings Ltd said unit Goodsales Investments Ltd has agreed to acquire the remaining 30 per cent stake in Shenzhen China Resources Tiejian Concrete Co Ltd which the group does not own for 15m yuan.  Upon completion of the deal, Tiejian will become a wholly-owned unit of Goodsales Investments, it said in a statement.  Tiejian was set up as a limited liability company on March 26, 2002 in China with a registered capital of 25 mln yuan.  It is principally engaged in the manufacturing and sale of ready-mixed concrete in Shenzhen.