Conch Group acquired 65% stake in Hunan Yunfeng Cement

Byzhangli

Updated Fri, 21 Feb 2014 00:00:00 GMT

China: On January 23, 2014, Hunan Yunfeng Cement and Conch Group officially signed the cooperation agreement that Conch Group acquired 65% stake in Yunfeng Cement. On February 9, Yunfeng Cement and Conch Group held the management power handover ceremony. And at present, Conch Group had officially took over the management of Yunfeng Conch Joint-stock Cooperative Company.

Responsible person of Conch Group said that at present, Conch Group has deployed capable forces to conduct a comprehensive inspection of the original production line of Yunfeng Conch Joint-stock Cooperative Company, the company will achieve production at full capacity around February 20,and  the company has the absolute confidence and determination to complete the two major economic indicators that the Municipal Party committee City Hall issued, one is to achieve tax revenue of 40 million yuan and strive for 50 million yuan; the other is to complete the main project construction tasks of the second phase by the end of this year and put it into operation in 2015.