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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%.
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.