China National Building Material Company Limited (CNBMC) announced that its parent company, China National Building Material Group Corporation, will acquire at least 90% of Zhejiang Hushan Group Company Limited. CNBMC may exercise its pre-emptive right to replace the parent company to buy the equity of Hushan Group.
Hushan Group has three production lines with a daily clinker capacity of 2,500 tonnes each and two production lines with a daily clinker capacity of 1,000 tonnes each. It is also building a production line which will have a daily clinker capacity of 4,000 tonnes.
CNBMC has earlier announced its intention to fully acquire Zhejiang Cement, which has three production lines with a daily clinker capacity of 12,500 tonnes and four production lines under construction with a daily clinker capacity of 4,000 tonnes each.
