Malaysia’s YTL Cement said it plans to acquire a 32.10 per cent stake in cement manufacturer Perak-Hanjoong Simen Sdn. Bhd. for 75.25 million ringgit (US$19.8m). YTL Cement will acquire the stake from South Korea’s Doosan Heavy Industries & Construction Co. Ltd. YTL Cement will tap its internal funds to pay for the acquisition and may also take out bank loans. Perak-Hanjoong has a 16% market share as of end 2003, making it the second-largest integrated cement producer in the country. "The proposed acquisition is expected to complement YTL Cement’s core business activities and consolidate the group’s position Published under Cement News
Malaysia’s YTL Cement said it plans to acquire a 32.10 per cent stake in cement manufacturer Perak-Hanjoong Simen Sdn. Bhd. for 75.25 million ringgit (US$19.8m). YTL Cement will acquire the stake from South Korea’s Doosan Heavy Industries & Construction Co. Ltd. YTL Cement will tap its internal funds to pay for the acquisition and may also take out bank loans. Perak-Hanjoong has a 16% market share as of end 2003, making it the second-largest integrated cement producer in the country. "The proposed acquisition is expected to complement YTL Cement’s core business activities and consolidate the group’s position Published under Cement News
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