Jidong Cement to buy cement production assets for CNY335m
Tangshan Jidong Cement Co, Ltd announced on December 19, 2007 that its wholly owned subsidiary, Jidong Cement Fengrun Co, Ltd, entered into an agreement with Tangshan Longfeng Cement Co, Ltd on the acquisition of the latter for CNY335m.
Registered CNY100m in capital, Tangshan Longfeng owns a production line with a capacity of 2500tpd of clinker which started operation in March 2005 and produced 748,300t of cement clinker in 2006. The deal also involves some fixed assets and two plots of land which cover 11ha of the target company.
Incorporated in July 2005, Jidong Cement Fengrun is one of the largest production bases of its parent. It is devoted to producing new dry-process technology with a total capacity of 9,800tpd now. The company expects that its annual capacity of cement clinker will increase 800,000t after the deal.
Based in Tangshan City, Hebei Province, Northern China, Jidong Cement is engaged in producing cement and cement clinker. Published under Cement News
