China’s Asia Cement to acquire Lanfeng Cement

Taiwan-based 6819 Asia Cement’s subsidiary Asia Cement (China) will acquire a 100% shareholding in Sichuan Lanfeng Cement. The acquisition will also allow Asia Cement (China) to own 100% indirect stake in Sichuan Lanfeng Building Materials.

The deal was valued at CNY 2.05 billion (€240.83 million). The acquisition will be done via Asia Cement (China)'s subsidiary Sichuan Yadong Cement.

In Sichuan, Asia Cement (China)'s cement capacity will be raised to 1 million tonnes/year with the added annual capacity of 5 million tonnes from Lanfeng Cement's two production lines.