Yufeng Group successfully acquired 100% equity of Guangxi Zhengling Luzhai Cement

2022, on the last working day of 2022, with the approval of the board of directors of Beibu Gulf Port Group, Yufeng Group successfully acquired 100% equity of Guangxi Zhengling Luzhai Cement Co., Ltd. on Ali Asset Open Trading Platform. After eight months of negotiations, Zhengling Cement officially fell to Yufeng Group, and the cement production capacity of Yufeng Group increased by another 1 million tons!

Zhengling Cement, formerly a subsidiary of Guangxi Investment Group Co., Ltd., has a new dry process cement production line with a daily output of 2500 tons of clinker and more than 240 employees. It has the mining right of Longtoushan Limestone Mine in Luzhai Town, Luzhai County, with a preliminary proven reserve of 60-70 million tons. The predecessor of Zhengling Cement is Luzhai County Cement Plant, which was acquired by Liuzhou Zhengling Group in 2004; in 2019, Zhengling Cement was acquired by Guangxi Financial Investment Group Co., Ltd.; in 2020, Guangxi Investment Group Co., Ltd. and Guangxi Financial Investment Group Co., Ltd. implemented strategic restructuring.

Since the recovery of Zhengling Cement in 2019, Yufeng Group has been seeking cooperation with its shareholders in production, marketing and other aspects, but it has been fruitless and has been in a state of disorderly competition for a long time. In 2022, Yufeng Group actively promoted the integration of cement production capacity in centralized areas, avoided disorderly competition, and finally finalized the acquisition plan of Zhengling Cement after more than ten business negotiations.

Next, Zhengling Cement will merge with Luzhai Yufeng to build a large garden factory covering more than 2000 mu, and optimize the production capacity and product allocation of Yufeng Group in Liuzhou.