China National Building Material Co Ltd (CNBM) - July 2015

CNBM has signed a strategic partnership with France’s Schneider Electric. The US$554m deal aims to develop energy efficiency projects and services that can be used throughout Asia, Africa and Latin America, as well as modernising CNBM’s plants. According to the agreement signed earlier this month, “CNBM and Schneider will stay in close collaboration in such fields as cement, glass, new energy and new-type houses. They will take use of their respective strong points to co-develop the Chinese and overseas markets while working together to build the Sino-French manufacturing platform featuring intelligent, IT and modern development.”

Mr Song Zhiping, executive director and chairman of CNBM, praised the partnership, saying, “the combination between such technologies and experience of Schneider with the rich engineering and marketing experience of CNBM will greatly push forward the rapid business growth of both parties.”