Building materials group CRH PLC said it completed the acquisition of a 26 percent stake in the Jilin Yatai Group's cement operations for €224 million, as announced in January 2008.
Yatai Cement's operations comprise 4 integrated cement plants and 4 separate grinding stations in Jilin and Heilongjiang provinces in north eastern China, with a current cement capacity of 14 million tonnes per annum. The group's major investment programme is well advanced and is expected to be completed in late 2009 when cement capacity will increase to 18 million tonnes per annum.
Yatai Cement is the leading player in the north eastern provinces and is a top-10 cement supplier in China, CRH said.