Qilianshan Cement to purchase assets in Gansu

Byswb

Updated Tue, 11 Jan 2011 00:00:00 GMT

Gansu Qilianshan Cement plans to purchase a 26 percent stake in Gansu Zhangye Julong Building Materials for 60 million yuan, reports 163.com, citing a company filing.

After the purchase is completed, Qilianshan Cement, Gansu Heihe Hydropower, Zhangye Environment Protection Building Materials, Zhangye Sanqiang Chemical, Zhangye Longteng Cement, and Linze Shengyuan Industry will hold respective stakes of 26 percent, 26 percent, 12 percent, 12 percent, 12 percent, and 12 percent in Julong Materials.

Julong Materials has a new dry process cement production line which has daily production capacity of 2,500 tons and annual production capacity of one million tons.