Huaxin Cement to buy cement firms for US$83m

Byyyp

Updated Thu, 24 Jan 2013 00:00:00 GMT

Huaxin Cement, a Shanghai-listed cement manufacturer, has plans to acquire a 70% stake in two separate cement companies located in Hubei Province at a combined price of US$83m, according to sources reported by China Business Newswire. Huaxin Cement said that the acquisition will increase its competitiveness in the local cement market.