Sinoma Ltd buys cement biz from parent for RMB95.2M

Byswb

Updated Thu, 24 Feb 2011 00:00:00 GMT

China National Materials (01893) (Sinoma) announced that it had agreed to acquire from parent company a 100% equity interest in Suzhou Concrete Cement Product Research Institute Company Limited for RMB95.1756 million in cash.

Sinoma is of the view that the acquisition will facilitate its expansion into commercial concrete market, extend its industrial chain, improve its profitability and enhance its key competitiveness and market power.