Taipei, May 12, 2010 (CENS)--After acquiring Prosperity International with 400 million Hong Kong dollars, Taiwan Cement has become the largest cement producer in southern China, as well as aiming to expand presence in other parts of China.
Taiwan Cement noted it would increase investments in Sichuan province, southwestern China. The acquisition of Prosperity International results in Taiwan Cement having a cement plant in Chongqing of Sichuan province, which will resume mass production by the end of this year.
In addition, Taiwan Cement has invested 800 million renminbi to set up a cement kiln in Guangan of Sichuan province which is capable of rolling out 45 million tons of cement, with the plant expected to begin mass production sometime in 2011.
C.C. Huang, vice president of Taiwan Cement, said his company will see annual production capacity in China reach 50 million tons in 2012, ahead of schedule.
After acquiring Prosperity International, Taiwan Cement has expanded presence from Southern China to southwestern and northeastern China. For instance, the company has a joint-venture cement plant with Kunming Steel in Yunnan province, in which Taiwan Cement holds 35% stake, that can produce six million tons of cement per year.
The company`s newly established plant in Lianing of northeastern China will begin mass production sometime this month, with annual capacity of two million tons.
Taiwan Cement will have 43 million tons in annual production capacity in China by the end of this year, making the firm a top-3 in China.
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