China consolidates cement assets in 2009

China consolidates cement assets in 2009
19 March 2010

China consolidated cement assets whose combined production capacity reaches nearly 80Mt through mergers and acquisitions last year, according to the Ministry of Industry and Information Technology.

Larger cement firms were created through business purchases, internal integration and overseas investment.

In 2009, China National Materials Co Ltd acquired Gansu Qilianshan Cement Group Co Ltd to increase its control over the cement market in Northwest China.

Tangshan Jidong Cement Co Ltd obtained a controlling stake in Shaanxi QinLing Cement (Group) Co Ltd to lead the market in Shaanxi Province.

Huaxin Cement Co Ltd and four firms based in Tibet set up a joint venture to occupy the Tibetan cement market.

BBMG Corp became one of the major shareholders of Tianjin Zhenxing Cement Co Ltd to be the cement giant in Beijing, Tianjin and Tangshan.

According to the Quantitative Economics and Audit Society of China Building Materials, China had 65 cement firms with annual production capacities exceeding 5Mt each as of Dec. 31, 2009. Of the 65 firms, 20 firms are capable of producing more than 10Mta of cement.
Published under Cement News