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News Huaxin Cement to acquire a 5.2% stake in Huangshi State-Owned Assets Company

Huaxin Cement to acquire a 5.2% stake in Huangshi State-Owned Assets Company

Written by Global Cement staff 31 May 2022
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China: Huaxin Cement has signed a capital injection agreement with Huangshi State-owned Assets Company to acquire a 5.2% stake in the latter for US$150m. The producer says that it will strengthen its cooperation with Huangshi State-owned Assets Company in order to accelerate development of its non-cement business. It said that the transaction will also improve its innovation capabilities, helping it to achieve a low-carbon transformation. Huangshi State-owned Assets Company indirectly owns a 16% share of Huaxin Cement.

Last modified on 01 June 2022
Published in Global Cement News
Tagged under
  • China
  • Huaxin Cement
  • Huangshi StateOwned Assets Company
  • Stake
  • Acquisition
  • innovation
  • diversification
  • Government
  • GCW559

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