Huaxin subsidiary to buy 20% of Shide Golden Eagle Cement, China

Huaxin subsidiary to buy 20% of Shide Golden Eagle Cement, China

Huaxin Cement announced that its wholly-owned subsidiary Huaxin (Hong Kong) International Holdings, has signed an agreement with Starry Cosmos Group Ltd to acquire a 20 per cent equity in the latter’s Shide Golden Eagle Cement (Hong Kong) Co.

Shide Golden Eagle Cement (Hong Kong) owns 99.8 per cent equity in Enping Shide Golden Eagle Building Material Co. Enping Shide is constructing a 4000tpd new dry-process cement clinker production line.

Huaxin Hong Kong will hold 65 per cent of Shide Golden Eagle Cement, directly hold 64.87 per cent of Shide Golden Eagle Building Material, and directly and indirectly hold 65.07 per cent of Shide Golden Eagle Building Material.