Tangshan Jidong Cement acquires majority stake in Wubao Jidong, China

Tangshan Jidong Cement acquires majority stake in Wubao Jidong, China

Tangshan Jidong Cement announced it has acquired a 51 per cent stake in Wubao Jidong Special Cement for CNY173m, reports Securities Times, citing a company filing yesterday.

At the same time, Shandong Linqu Shengwei Special Cement acquired a 10 per cent interest in Wubao Jidong Special Cement for CNY34.1m.

According to Tangshan Jidong Cement, the acquisition will not have a significant impact on its fiscal or operational status and it will enhance its market share in Shaanxi special cement market.