Jilin Yatai buys 51% stake in Tieshui Cement for 266M yuan

Byswb

Updated Fri, 24 Dec 2010 00:00:00 GMT

Yatai Group Building Material Investment, a subsidiary of Jilin Yatai Group (600881), acquired 51 percent stake of Tieling Tieshui Cement Company for 266 million yuan, reports nbd.com.cn, citing a company filing. Two months ago, the subsidiary purchased a 44-percent stake in Tieling Tieshui Cement Company.

According to Yatai Group, Tieling Tieshui Cement has three new-model dry-method clinker production lines, two pure cryogenic cogeneration systems, three cement grinding systems and two slag micro-mist production lines.

An employee said the target company's location in Tieling is close to Shenyang where the company just completed its building material industrial park.

Yatai Group is mulling the purchase of the remaining five percent of shares.