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[January 2009]
CRH Purchases Shareholding in Yatai Cement in China
CRH plc, the international building materials group, has announced completion of its acquisition of a 26% shareholding in the Jilin Yatai Group's cement operations (Yatai Cement), for RMB 2.1 billion (€224 million), details of which were announced on 30 January 2008.
Yatai Cement's operations comprise four integrated cement plants and four separate grinding stations in Jilin and Heilongjiang provinces in north-eastern China, with a current cement capacity of 14 million tonnes per annum. The group's major investment programme is well advanced and is expected to be completed in late 2009 when cement capacity will increase to 18 million tonnes per annum.
Yatai Cement is the leading player in the north-eastern provinces and is a top-10 cement supplier in China.
ENDS