Anhui Conch acquisition, China

Anhui Conch Cement plans to acquire Anhui Conch Venture Capital’s no 4 and 5 energy saving equipment factories, and relevant land use rights, for a total of CNY22m, reports Shanghai Securities News, citing a company filing.

According to the filing, the cement maker plans to set up an equipment storage centre, which will boost production and lower procurement costs.

The factories purchased will be mainly used for storage, said the firm.