West China Cement
West China Cement is a producer and distributor of cement.
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West China Cement acquires Xiushan Cement for RMB 180 million
West China Cement Limited (AIM: WCC) has acquired Shaanxi Xiushan
Cement Limited Company for Rmb 180 million (£16.5 million), comprising
the Xiushan cement plant in the Shaanxi province in proximity to its
Ankang and Lantian plants and the Xunyang Xiushanlong cement milling
facility.
The target company posted a pre-tax profit of Rmb 23.8
million (£2.18 illion) in 2008. In terms of the agreement, profits from
Xiushan accrue to WCC with effect from August 2009.
The Xiushan
cement plant has a capacity of 600,000 tonnes per annum and limestone
reserves to support this operation for at least 30 years. WCC expects
to modify the plant to improve operating efficiency, environmental
performance and output through using modern technology.
The Xiushanlong milling
plant has the capacity to mill approximately 100,000 tonnes of clinker
or slag, which can then be blended with Ankang's production.
“Xuishan
offers an excellent opportunity to improve our service to the cement
market in the South-East of the province...the milling plant also gives
us the capacity to produce slag cement, allowing us to offer a range of
blended cements which has technical benefits and should be useful in
several of the large hydro-electric and railway projects in the area,”
said Chief Executive of WCC Jimin Zhang.
WCC’s capacity will
reach 8 Mt (million tonnes) during the course of next year, which is
the bottom of the declared 8-10 Mt target for 2010, WCC added.
Other West China Cement news
- West China Cement`s Hong Kong IPO values company at US$895 million
2010-08-21 - Two major contract wins for West China Cement
2009-06-10 - West China Cement announce record sales and approval for two new plants in earthquake reconstruction area
2009-04-01 - West China Cement fires 3rd kiln and sees capacity reached in Q2
2009-02-05
