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| HeidelbergCement acquires 80% of Liaoning Gongyuan Cement HeidelbergCement, the fourth largest cement producer in the world, has signed an agreement on the acquisition of a majority stake of 80% in the Chinese cement manufacturer Liaoning Gongyuan Cement. The company is located in Liaoning province in Northeast China and operates three cement plants in the greater Shenyang/Benxi area, one of which is a newly erected plant near the provincial capital Shenyang with a kiln production capacity of 2,500 tonnes per day. Furthermore the company operates a grinding plant in Inner Mongolia. The total sales volumes of Liaoning Gongyuan Cement amount to around 3 million tonnes per year. The purchase agreement is still subject to the approval of the authorities. With the erection of a second kiln line in the new Gongyuan plant and the upgrade of the existing kilns, HeidelbergCement intends to increase the production capacity up to 5.6 million tonnes by the end of 2008. HeidelbergCement has been active in the southern Chinese province of Guangdong since 1995 through a 50:50 joint venture. In September 2005, HeidelbergCement has entered the Central Chinese markets with a joint venture in the Shaanxi province. write your comments about the article :: © 2006 Construction News :: home page |