Huaxin to acquire stakes in two Hubei-based companies, China

Huaxin Cement is continuing its acquisitions policy by announcing it plans to acquire stakes in two companies based in Hubei province.

The Chinese producer is set to buy a 70 per cent share in two separate companies for a combined price of CNY519m (US$83.4m). Huaxin Cement said that the acquisition will increase its competitiveness in the local cement market.

Huaxin Cement is 41.6 per cent controlled by Swiss cement major Holcim.