China: China Resources Cement (CRC) has announced that it has agreed to acquire a 100% equity stake in Hainan Wuzhishan Dajiangnan Cement Limited at a total of US$8.4m. Hainan Wuzhishan Dajiangnan operates a 0.6Mt/yr cement grinding line in Maoyang Town, Wuzhishan City, Hainan Province.
CRC says that the acquisition will expand the strategic locations of its business and strengthen its market position in Hainan Province.