China`s Huaxin Cement to buy stake in Suzhou Jinmao Cement

China`s Huaxin Cement to buy stake in Suzhou Jinmao Cement
Published: 05 January 2004

Huaxin Cement Co Ltdsaid its shareholders agreed to buy a 51 per cent stake in Suzhou Jinmao Cement Co Ltd from two companies.  The listed company will buy a 50 per cent stake in the cement company for US$27.45m from Dongfang Maobang Cement Pte Ltd and the remaining one per cent stake for 7.78 mln yuan from Suzhou Wuzhong Mudu Town Economic Development Corp.