Raysut’s chief financial officer said on Sunday the company was holding acquisition talks with several companies and was expecting to reach a deal within a month.
"This project will serve the strategies and goals of the company and will add more value to the shareholders and investors of the company," Raysut said in the statement.
The company did not give details of the size of the deal. Pioneer Cement Industries is based in Ras al-Khaimah, a northern emirate in the United Arab Emirates federation.
