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 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.
Sources:
- Forbes.
- China Post.
- Focus Taiwan.
- Taipei Times.
Edited from various sources by Louise Fordham
Read the article online at: https://www.worldcement.com/asia-pacific-rim/03112014/taiwan-cement-said-to-be-acquiring-sichuan-railway-group-cement-china-781/
