CNBM signs the M&A Agreement with Kehua Group Ltd.
Data Source: CNBM
Released on: November 13, 2011
China National Building Materials Co., Ltd (or “CNBM”) has taken a new step in the southwest region by successfully reorganizing Kehua Group Ltd., a leading cement enterprise in Chongqing Municipality. The share transfer agreement signing ceremony was held on November 10 in Chongqing. So far, the cement strategic framework of CNBM covering three provinces and one municipality (Yunnan, Guizhou, Sichuan and Chongqing) in the southwest region has taken shape.
At the beginning of this year, CNBM established a developing strategy of market exploitation in the southwest region to take the southwest region as a new strategic M&A zone after the establishment of the Huaihai economic zone, southeast economic zone and northeast economic zone. In recent period, CNBM has signed the M&A agreement with several leading cement enterprises in Yunnan, Guizhou, Sichuan for the purpose of accelerating the M&A in southwest region, which will expand its market territory rapidly. The CNB’s M&A in the southwest region has attracted a lot of attention in the cement industry. Its M&A culture and win-win concept has gained the acknowledgment and response from a great many of other cement enterprises and has received full supports from the local government and the cement industry association.
People were present the signing ceremony including Song Zhiping，President of CNBM group and Chairman of Board Of Directors, Lei Qianzhi, Vice Director of China Building Materials Association and Director of China Cement Association, Wang Lifeng, Vice President and Party Secretary of China Medicine Group, Cao Jianglin, Director and Chairman of CNBM group, Qin Chunyu, President of China Building Material Press, Zhao Baozhong, President of Kehua Group and leaders of Economic and informationization Commission, State-owned Assets Supervision and Administration Commission, Development and Reform Commission, Quality Supervision Bureau, Cement Quality Supervision Station of Chongqing and Jijiang county and Wanhou District. Cao Jianglin and Zhao Baozhong, on the behalf of each company, signed in the M&A agreement. The signing ceremony was chaired by Cui Xingtai, Excutive Director and Deputy Chairman of CNBM.