Merrill Lynch & Co Inc has signed an agreement to buy 46 pct of Ziping Cement Co for US$50m, the 21st Century Business Herald reported, citing sources.

Ziping Cement is based in Wenchuan, the epicenter of the May 12 earthquake.

Following the investment, Ziping’s annual production capacity is expected to increase to 3Mt from 1Mt previously, the report said.
Advertisement