# Sinoma International, Southern Cement and Zongyang to form joint venture for aggregate business

Sinoma International's subsidiary Anhui Jieyuan will jointly set up Zongyang Southern Materials Co., Ltd. with Southern Cement and Zongyang Investment Development. The JV has registered capital of CNY 500 million, with Sinoma International holding 19%.

- Type: Acquisition
- Announced: 2021-01-22
- Where: China
- Value: $7.70M (50.0M CNY)
- Status: announced
- Products: aggregates
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [Sinoma International Engineering](https://endata.com/companies/21384.md) (investor)
- [Southern Cement](https://endata.com/companies/49246.md) (partner)
- [Zongyang Investment Development Co., Ltd.](https://endata.com/companies/52716.md) (partner)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/398664.html), 2021-01-22: "安徽节源参股设立枞阳南方材料有限公司，符合公司'有限相关多元'的发展战略。"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.