Taiwan Cement Corp (台灣水泥), the nation’s No. 1 cement maker, said yesterday that it plans to spend about 675.89 million yuan (US$110.57 million) to acquire China-based Sichuan Railway Group Cement Co (四川鐵路集團水泥) via a subsidiary.
The acquisition would increase Taiwan Cement’s total annual cement capacity by 2 million tonnes and its clinker capacity by 1.6 million tonnes, the company said.
Before the takeover, Taiwan Cement’s total annual cement production capacity is 55.2 million tonnes in China and 10.6 million tonnes in Taiwan.
The firm is also expanding its capacity in China by 1.6 million tonnes of cement and clinker this year.
Taiwan Cement has set a target to raise its capacity in China to 100 million tonnes by the end of 2016 through acquisitions and capacity expansion, which would make it one of China’s top three cement makers.
The company is now the sixth-largest cement maker in China in terms of capacity.
The latest acquisition would also make Taiwan Cement the largest cement company in the vicinity of Chongqing, Sichuan Province, with an annual capacity of about 8 million tonnes a year, the company said.
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