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News Sinoma unit sells stakes in Midong Tianshan and Fukang Tianshan

Sinoma unit sells stakes in Midong Tianshan and Fukang Tianshan

Written by Global Cement staff 23 September 2016
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China: Xinjiang Tianshan Cement, a subsidiary of China National Materials Company (Sinoma), has arranged to sell stakes in two of its companies to Zhongtai Chemical. Zhongtai Chemical will acquire a 64.6% equity interest in Xinjiang Midong Tianshan Cement and the entire equity interest in Xinjiang Fukang Tianshan Cement, currently held by Tianshan Cement. It will also acquire a 19.47% equity interest in Midong Tianshan held by Xinjiang Tunhe Cement.

Sinoma said that the equity transfer aims to respond to the national policy of production capacity reduction, quality improvement and efficiency enhancement, and to realise the preservation and appreciation of the assets of Tianshan Cement.

Last modified on 28 September 2016
Published in Global Cement News
Tagged under
  • China
  • Sinoma
  • China National Materials
  • Xinjiang Tianshan
  • Zhongtai Chemical
  • Stake
  • Acquisition
  • Xinjiang Midong Tianshan Cement
  • Xinjiang Fukang Tianshan Cement
  • Midong Tianshan
  • Xinjiang Tunhe Cement
  • GCW270

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