CNBM Joins Hands with Hunan cement producers, China
China National Building Material Group Corporation (CNBM) said on January 13, 2008 that it signed strategic agreements with two cement producers, the Changsha branch of China Zhaoshan Xinxing Group and Changsha Pingtang Cement Co., Ltd. in Changsha, capital of Chinese southern Hunan Province.
China National Building Material Co., Ltd, CNBM’s listing arm, previously acquired Hunan Shaofeng Cement Group Co., Ltd. Combined the production capacity of three companies, CNBM now takes 50% of the new dry process cement production capacity in the province, and that strengthens its competitiveness against the two major provincial rivals, China National Materials Group Corporation and Anhui Conch Cement Co., Ltd.
CNBM’s listing arm previously promised that it would totally invest CNY 3bn in the new dry-process cement business in the province before 2010.
Published under Cement News
