On June 24 , Conch Cement announced that it intends to acquire 100% equity of Conch Building Material Design Institute held by Conch Group for 562 million yuan. After the acquisition, the design Institute will become a wholly-owned subsidiary of Conch Cement.
The design Institute is a high-tech enterprise with a number of Grade a qualifications, covering the whole chain of cement, mining, new energy, environmental protection and other projects. Conch Cement said that the acquisition is in line with the enterprise's main business plus diversified coordinated development strategy, which can strengthen the competitiveness of engineering services, optimize the supporting capacity of the industrial chain, reduce project design costs, and rely on group resources to enhance the profitability of design institutes.
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