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03323 CNBM
RTNominal down2.840 -0.180 (-5.960%)
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30/09/2019 15:39

CNBM (03323) to set up JV for cement business

[ET Net News Agency, 30 September 2019] China National Building Material Company
Limited (03323) said China United Cement, a wholly-owned subsidiary of the company,
entered into a shareholders agreement with Henan Investment Group. They agreed to
establish a joint venture in the PRC.
The registered capital of the joint venture is RMB9,225 million, of which RMB5,535
million (representing 60% of the registered capital of the joint venture) will be
contributed by China United Cement in cash and RMB3,690 million (representing 40% of the
registered capital of the joint venture) will be contributed by Henan Investment Group by
way of injecting the injected assets.
The business scope of the joint venture includes manufacturing and sale of cement and
its related products; import and export; limestone mining for cement, processing and sale
of sand aggregate, etc. (RC)

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