China National Building Material to set up new cement Co


Updated 2011-12-19

China Business News reported that China National Building Material plans to jointly establish Southwest Cement with Shenzhen Jingda Equity Investment Management, Shanghai Zhentong Equity Investment Management and Beijing Huachen Pujin Asset Management.

Southwest Cement will have a registered capital of CNY 10 billion of which China National Building Material will contribute CNY 5 billion for a 50% stake. Over the last several years, China National Building Material had set up several cement companies in southeast, north and central China.

Following the success of China National Building Material, several competitors including Anhui Conch Cement and switched their strategies, and began to conduct mergers and acquisitions alongside the building of new production lines.

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