China National Building Material Company said its wholly owned China United agreed to establish a joint-venture Dezhou China United for the future acquisition of certain cement assets and liabilities of Dezhou Daba.
China United will contribute Rmb170 million to hold 85% of the JV company. Dezhou China United will be engaged in the manufacture and sale of cement and related products, subject to the approval of the relevant PRC authorities. Its business license is expected to be for a period of 50 years.
