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.