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CRH buys 26% of Jilin Yatai's cement operation

By Yu Hongyan (chinadaily.com.cn)
Updated: 2009-01-09 13:54

Irish CRH plc, the world' second largest building material group, said on Thursday it has completed the acquisition of a 26 percent stake in Jilin Yatai Group's cement operations (Yatai Cement) for 2.13 billion yuan ($311 million).

Yatai Cement's operations comprise four integrated cement plants and four separate grinding stations in Jilin and Heilongjiang provinces in Northeast China.

Shanghai-listed Yatai Group is the largest cement maker in Northeast China, with an annual production capacity of 14 million tons.

The Irish building material giant bought a cement factory in Northeast China's Heilong province in 2006.