West China Cement to acquire Shaanxi-based producer

West China Cement said it agreed to acquire the entire equity interest of Tongchuan Yaowangshan Ecological Cement Co Ltd as well as shareholder's loan at CNY767m (US$121m).

Yaowangshan Cement is located in the Yaowangshan region of Tongchuan District, Shaanxi Province. The Yaowangshan cement plant that it operates is primarily engaged in the production and sale of cement, with a 2.2Mta cement capacity.

The move is part of efforts to facilitate consolidation in the sector in Shaanxi province, the company says.