Established in 2003, the target firm produced 1.31Mt of cement and 2.2Mt of clinker in 2009. The target cement producer, which has a registered capital of CNY246m, had CNY1.32bn in total assets as of end of the June, and its strategic location is good for cement market expansion, said the Shanghai-listed buyer without elaborating other details.
Jilin Yatai’s net profit for the first half of this year declined nearly 30% YoY to CNY241m, and its operating profit was CNY331m, down 12% YoY.
