On January 29 , Conch Cement announced that the controlling shareholder Conch Group issued a Letter of Commitment on Non-Competition on the proposed capital increase and acquisition of Wanwei Group, aiming to resolve the potential competition with Wanwei High-tech Cement Business. Conch Group will promote the disposal of the relevant cement assets before the completion of the capital increase acquisition, and grant Conch Cement the right of first refusal; if the capital increase acquisition is not completed before the completion of the capital increase acquisition, the disposal will be completed within three years, and Conch Cement will exclusively contract to operate the business during the transitional period. It is reported that Wanwei Hi-tech has a 6000 t/d and a 3000 t/ d clinker production line, with a total clinker production capacity of 9000 t/d.
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