China: Taiwan Cement Corp. to acquire Sichuan Railway Group Cement Co.

Bya897204973

Updated Wed, 19 Nov 2014 11:35:38 GMT

According to local press reports, Taiwan Cement Corp. plans to acquire China’s Sichuan Railway Group Cement Co. The purchase, which is said to be worth approximately 675.9 million yuan (US$110 million), will take place via the group’s Hong Kong-based subsidiary TCC International Holdings Ltd.

The acquisition will enable Taiwan Cement to further increase its presence in mainland China, adding around 2 million tpa to the group’s production capacity.

In the first nine months of 2014, cement output in China improved by 3% y/y. However the rate of growth has shown signs of slowing, with cement output in September declining by 2.2% y/y to 224.15 million t.