Xinjiang Zhongtai Chemical Co., Ltd. cancelled the acquisition of remaining 83.9% stake in Xinjiang Midong Tianshan Cement Co., Ltd. from Xinjiang Tianshan Cement Co., Ltd. and Xinjiang Tunhe Cement Co., Ltd.
September 21, 2017
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Xinjiang Zhongtai Chemical Co., Ltd. (SZSE:002092) entered into an framework agreement to acquire remaining 83.9% stake in Xinjiang Midong Tianshan Cement Co., Ltd. from Xinjiang Tianshan Cement Co., Ltd. (SZSE:000877) and Xinjiang Tunhe Cement Co., Ltd. on September 22, 2016. The transaction will be financed through own funds. Xinjiang Midong Tianshan Cement Co., Ltd reported total assets of CNY 1.03 billion, shareholders' equity of CNY 282.4 million, operating revenues of CNY 250.8 million, and net loss of CNY 60.3 million for the year ending December 31, 2015.
Xinjiang Zhongtai Chemical Co., Ltd. (SZSE:002092) cancelled the acquisition of remaining 83.9% stake in Xinjiang Midong Tianshan Cement Co., Ltd. from Xinjiang Tianshan Cement Co., Ltd. (SZSE:000877) and Xinjiang Tunhe Cement Co., Ltd. on September 22, 2017.
Xinjiang Zhongtai Chemical Co., Ltd. specializes in the production and marketing of chemical ingredients. The group proposes polyvinyl chloride resin, caustic soda, coke, calcium carbide, etc. for the manufacturing of oil, chemical, textile and building materials products.
China accounts for 97.6% of net sales.
XINJIANG ZHONGTAI CHEMICAL CO., LTD. 
