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Latest acquisitions in China

World Cement,

Chinese sources in the first week of 2010 published details of the following purchases. BBMG has agreed to acquire from China National a 13.8% equity interest in Dingxin Cement for a total consideration of RMB106 million. Once the deal has been completed, Dingxin Cement will be owned 98.46% by BBMG and 1.54% by Design and Research Institute of Tianjin Cement Industry. BBMG sees the acquisition as an excellent opportunity to consolidate its internal resources and corporate structure for the group’s cement business.

At the same time it was announced that West China Cement Ltd (WCC) had acquired Shaanxi Xiushan Cement (Group) Limited for CNY180 million. The acquisition includes the Xiushan cement plant in Zhen’an County, Shaanxi Province, about 90 km north of WCC’s Ankang plant and 150 km south-west of its Lantian plant.

The Xiushan plant’s capacity is 600 000 tpa with limestone reserves for at least 30 years. The Xiushanlong grinding facility which is located 10 km from the Ankang plant has a capacity of 100 000 tpa of clinker which is blended with Ankang’s production.

These moves follow the takeover of SDIC Hainan Cement Co Ltd by HK-listed China Resources Cement (CRH) in December 2009. CRC has said that its South China Expansion plan is aimed at increasing cement production in the region to 50 million t and winning control of 20 – 25% of South China’s cement market. The group has several clinker production plants under construction and by the first quarter of this year annual cement production is expected to exceed 30 million t.

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