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News TCC makes US$13.7m from sale to CNBM

TCC makes US$13.7m from sale to CNBM

Written by Global Cement staff 09 January 2013
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China: TCC International Holdings has reported that it has signed an agreement with Southwestern Cement, a subsidiary of China National Building Material Group Corp (CNBM), to 'increase cooperation on several businesses'.

According to agreement, TCC will buy cement assets in Sichuan Province from Southwestern Cement for US$8.52m to expand its share of the local market, while TCC will sell its cement assets in Guizhou Province to Southwestern Cement for US$17.8m. TCC will earn US$137m in profit from the deal and will use the profit to replenish working capital and fund future acquisition projects.

Last modified on 09 January 2013
Published in Global Cement News
Tagged under
  • CNBM
  • China
  • Southwestern Cement
  • TCC
  • Sales
  • GCW82

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