Tianshan shares announced in the evening of August 9 that due to the long duration of the transaction and certain fluctuations and changes in the macro-environment and the industrial environment, the company decided to terminate the transaction of acquiring the controlling rights of the cement and other related business subsidiaries held by the related party Ningxia Building Materials and the trademarks and other assets involved in the cement and other related businesses.
Tianshan shares also announced that the company's actual controller, China Building Materials Group, and the controlling shareholder, China Building Materials Group, are actively studying and demonstrating other integration schemes for enterprises related to the basic building materials sector, and plan to promote them when conditions are ripe.
China National Building Material Group and China National Building Material Co., Ltd. intend to postpone the undertaking made in December 2017 to avoid competition with Xinjiang Tianshan Cement Co., Ltd.
