TCC International to acquire five cement facilities in mainland from Prosperity Minerals

Byswb

Updated Mon, 07 Dec 2009 00:00:00 GMT

TCC International Holdings Limited, engaged in the manufacture and distribution of cement, clinker, ready-mixed concrete and slag powder, has signed a memorandum of understanding with Prosperity Minerals Holdings Limited to acquire its cement production facilities in China for approximately $515 million. All the companies are based in China.
 
Prosperity Minerals Holdings Limited is a manufacturer of cement. TCC International is a subsidiary of Taiwan Cement Corporation, a Taiwan-based company engaged in manufacture and distribution of cement and ready-mixed concrete.

The transaction includes all five kilns owned by Prosperity in China, including four in Yingde of Guangdong and one in Yunnan, with total capacities amounting to 10 million metric tons a year, as well as three kilns under construction, located in Chongqing, Guiyang, and Liaoning, respectively, with total capacities reaching 6 million metric tons.