Conch Cement to Acquire Cement Assets for 619 Million Yuan

Anhui Conch Cement (SHA:600585) agreed to acquire cement production assets from Wanwei High-Tech and its subsidiary Mengwei Technology for 619.2 million yuan, with the final price to be confirmed and capped at 691.0 million yuan. The deal, conducted through wholly-owned subsidiaries Hefei Conch and Ulanqab Conch, involves two cement clinker lines with combined annual capacities of 3 million tons for clinker and 4 million tons for cement, according to a Thursday filing with the Shanghai bourse. Shares of the cement company rose 2% in recent trade.