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| CRH acquires shareholding in Yatai Cement, China Dublin-based CRH, the world's number four in building materials, announces that it has signed an agreement with Shanghai-listed Jilin Yatai Group whereby CRH will acquire a 26% shareholding in Jilin Yatai Group's cement operations (Yatai Cement) and partly finance a doubling of production capacity, for a total CRH investment of RMB 2.1 billion (euro 0.2 billion). The agreement also includes an option for CRH to increase its holding in Yatai Cement to 49% by acquiring a further 23% shareholding at an agreed formula after 4 years. The operations of Yatai Cement comprise 4 integrated cement plants and 2 grinding stations in Jilin and Heilongjiang provinces in north eastern China, with a current cement capacity of 9 million tonnes per annum. A major investment programme to double annual cement capacity to 18 million tonnes is already underway with completion scheduled for 2009. write your comments about the article :: © 2008 Construction News :: home page |