On 31 December 2004, Shanghai Allied Cement entered into the Supplemental Agreement with Tian An, pursuant to which the term of the Master Agreement will be extended to 31 December 2007 and the maximum aggregate principal amount of borrowings of Tian An’s Subsidiaries covered by the SAC Guarantees at any time will be capped at RMB80 million.
Both Shanghai Allied Cement and Tian An have business operations in the PRC through their respective Subsidiaries in the PRC. The Group is principally engaged in the manufacturing and distribution of clinker, high-grade cement and natural stones, ceramic tiles, provision of engineering design and installation, and the distribution of other construction materials.
