Zhongcai Cement

Tianshan Cement announced a restructuring plan to acquire 100% of Zhonglian Cement, 99.9274% of Nanfang Cement, 95.7166% of Xinan Cement, and 100% of Zhongcai Cement from China建材 and 26 other parties for approximately 98.1 billion yuan.

China National Building Material (CNBM) signed a letter of intent to sell certain cement business assets to its subsidiary Tianshan Cement, with consideration in Tianshan Cement shares and/or cash. The assets include stakes in several cement companies.