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China National Building Material Creates New Cement Arm

Post Time:Mar 25,2009Classify:Company NewsView:266

A new cement subsidiary of China National Building Material Co., Ltd. (CNBM) (SEHK: 3323) was inaugurated in Beijing yesterday, with a total registered capital of CNY 1 billion, and its total production capacity is expected to hit 50 million tons in the coming three years.

Presently, the Hong Kong-listed company, Liaoyuan Jingang Cement (Group) Co., Ltd., and Hony Capital separately hold 45%, 45%, and 10% of this venture. Different from other counterparts, the new incorporation will join hands with more industry and financial capitals as well as share the fruit of north China's cement industry integration and regrouping.

Benefiting from a series of preferential and revitalization policies, northwest and northeast China has outraced other domestic regions for three consecutive years, in terms of total investment in the fixed assets, and the local demand for cement is on the surge now.

Therefore, such a market with high growth potential charms more cement producers at home and abroad, said people familiar with the matter.

Source: www.cnstock.comAuthor: shangyi

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