According to local reports, Asia Cement (China) Holdings Corp is planning to increase its market share in five Chinese cities to over 30% through mergers and acquisitions. The cities in question are Wuhan (Hubei Province), Nanchang (Jiangxi Province), Jiujiang (Jiangxi Province), Chengdu (Sichuan Province) and Yangzhou (Jiangsu Province). As part of the expansion plan, Asia Cement is looking to purchase plants with a production capacity of 568 000 tpa in Wuhan and facilities with a capacity of 240 000 tpa in Nanchang.
During the annual shareholders’ meeting, Douglas Hsu, Chairman of Asia Cement and Far Eastern Group, stated that the company is maintaining its target to increase the capacity of its plants on both sides of the Taiwan Strait from the current 40 million t to 50 million t by the end of 2016. Chang Tsai-hsiung, Vice Chairman of Asia Cement (China), further noted that the company would only consider a merger or acquisition of a cement company that has stable financials.
Edited from various sources by Rosalie Starling
Read the article online at: https://www.worldcement.com/asia-pacific-rim/17062014/asia_cement_aims_to_increase_market_share_in_china_363/