Taiwan Cement makes offer for Tai Chang Group
Taiwan Cement Corporation, Taiwan’s largest cement producer, recently announced it has offered NT$3.5bn, to acquire Tai Chang Group which is located in Sichuan province, China. Tai Chang is situated in southern part of Chengdu of Sichuan Province, where there are few cement plants but cement demand there is on the rise because of the implementation of several large-sized public works, including hydropower plants and expressways.
Thanks to the acquisition, Taiwan Cement will see capacity increase by 3Mta of cement to reach 60.3Mta, becoming one of the top-three cement conglomerates in Sichuan province. Taiwan Cement said it will continually launch merger and acquisition cases because cement demand in southwestern China will be on the rise in the wake of increased construction of public works there.
The company has projected to boost annual production capacity to 100Mt in China in 2016, becoming one of China’s top-three cement producers. Up to date this year, the company has completed four acquisition projects in China.
Published under Cement News
