West China Cement in new joint venture
West China Cement said its indirect wholly- owned subsidiary Yaobai Special Cement Group and Shaanxi Yangshanzhuang Cement Company entered into a joint venture agreement to establish a joint venture to engage in the production and sale of cement in China.
The JV will own and operate the cement production line employed by New Suspension Preheater technology, with a clinker production capacity of 3500tpd of clinker.
Yaobai has agreed to inject CNY530m and Yangshanzhuang Cement has agreed to inject the operating assets and related assets (valued at about CNY564m as at 31 May 2011 by an independent valuation) to the JV.
Upon completion of the capital injection, the JV will be owned as to 80% and 20% by Yaobai and Yangshanzhuang Cement.
Published under Cement News
