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Article: CHINA NATIONAL MATERIALS BUYS 55MN QILIANSHAN CEMENT SHARES
- Article from:
- AsiaInfo Services
- Article date:
- June 16, 2009
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AsiaInfo Services
06-16-2009
China National Materials Buys 55mn Qilianshan Cement Shares
GANSU, Jun 16, 2009 (SinoCast Daily Business Beat via COMTEX) -- China National Materials Co., Ltd. (SEHK: 1893) yesterday announced that it had subscribed for 55 million shares of Gansu Qilianshan Cement Co., Ltd. (SHSE: 600720) for CNY 501 million, becoming the latter's second largest shareholder.
The win-win cooperation will further stabilize the cement competition between two northwestern Chinese provinces of Gansu and Qinghai, said a veteran cement expert, adding that both parties can wave a farewell to the internal competition in the near future.
Qilianshan Cement runs business in Gansu, Qinghai, ...